Sector Update: Healthcares Flat to Lower Pre-Market; Lexicon Soars 20% on Study of Diabetes Treatment

By Staff,

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Top Healthcare stocks:

JNJ: -0.26%

PFE: -0.13%

ABT: flat

MRK: flat

AMGN: -1.73%

Healthcare shares were flat to lower in pre-market trade on Monday.

In healthcare stocks news, Lexicon Pharmaceuticals ( LXRX ) shares were up 19.5% at $1.90 in pre-market trade on Monday after the pharmaceutical company reported positive, top-line results in a Phase 2 clinical trial of LX4211 in type 1 diabetes, which achieved the primary endpoint of reducing mealtime insulin use as well as several secondary endpoints, including improved glycemic control.

LXRX trades in a 52-week range of $1.54 to $3.18.

And, Retrophin ( RTRX ) raised its revenue guidance for 2014 and 2015 as reimbursement for its Chenodal drug to treat gallstones was "robust."

The pharmaceutical company said it now expects sales of between $19 million and $21 million in 2014, up from the previous guidance of $10 million to $12 million. For 2015, it expects sales between $35 million and $40 million compared to the previous guidance range between $19 million and $21 million.

Also, Cellular-therapy company NeoStem ( NBS ) said it agreed to acquire California Stem Cell, an Irvine, Calif.-based stem-cell biotechnology company, in an all-stock deal valued at about $34.1 million that will expand NeoStem's development pipeline to include therapies for cancer.

NeoStem will pay for California Stem Cell by issuing an aggregate of up to approximately 5.33 million shares of NeoStem common stock, restricted and subject to a holding period, in exchange for all of the CSC outstanding stock and options. As of Friday's close, 5.33 million shares of NBS had a value of $34.1 million.

Finally, Intercept Pharmaceuticals, Inc. ( ICPT ) has announced efficacy and safety results from the Phase 3 POISE trial of obeticholic acid for the treatment of primary biliary cirrhosis. The findings will be presented at the International Liver Congress of the European Association for the Study of the Liver.

Results showed notable improvements on key endpoints as early as two weeks after treatment initiation. The proportion of patients meeting the POISE primary endpoint was 10% in the placebo group, 47% in the 10 mg OCA group and 46% in the 5-10 mg OCA group.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: LXRX , RTRX , NBS , ICPT

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