Healthcare stocks were slightly higher in late Thursday trading
with the NYSE Healthcare Sector Index adding about 0.1% and shares
of healthcare companies in the S&P 500 climbing almost 0.3% as
In company news, BIND Therapeutics (
) retreated Thursday, with its stock falling by double digits after
the biotechnology company said it was ending a partnership using
its nanotechnology platform and an Amgen (
) compound to develop targeted cancer therapies, saying the results
"were not sufficiently compelling to proceed forward."
The companies began a 12-month partnership in January 2013 and
this week notified each other they would not be exercising options
to develop an Accurin using the AMGN therapeutic payload following
a six-month extension signed late last year to allow for completion
of the research plan.
Instead, BIND said it will continue work on its nanotech
platform and its proprietary BIND-014 drug candidate along with its
collaborations with AstraZeneca (
), Pfizer (
) and Roche (
BIND shares were off more than 11% at $11.46 apiece shortly
before today's early close, rebounding somewhat from a morning
slump to $11.02 a share. The stock has traded in a lifetime range
of $8.00 to $15.89 a share, declining around 14% through
Wednesday's close since pricing its initial public offering at $15
a share last September.
AMGN recently was up 1.2% at $121.52 a share.
In other sector news,
(+) ACT, (+0.2%) Sells two generic products - Ursodiol, marketed
under an Abbreviated New Drug Application, and Lamotrigine, another
approved ANDA but not yet marketed - to Impax Laboratories (IPXL)
for undisclosed amount of cash.
(-) RGDO, (-59.3%) Data Safety Monitoring Board begins
"unplanned review" of data from a trial of its REG1 anticoagulant
drug. Company suspends patient enrollment until the panel returns
with its recommendations. Cut to Underperform from Outperform at
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