Healthcare Stock Little Changed; Supernus Hits New 52-Week High After Blood-Pressure Drug OK
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Healthcare stocks were mixed in late with the NYSE Healthcare Sector Index rising about 0.1% and shares of healthcare companies in the S&P 500 slipping about 0.1% as a group.
In company news, Supernus Pharmaceuticals Inc. ( SUPN ) is now up around 13% at near $8.40, but is off a new 52 week high of $9.05 hit earlier after the drug-maker last night confirmed U.S. regulators have approved treprostinil extended-release tablets to treat pulmonary arterial hypertension in patients seeking to improve their ability to exercise.
SUPN developed the extended-release formulation of the drug - which will be marketed commercially as Orenitram - under a license agreement with United Therapeutics Corp ( UTHR ). The product also uses SUPN's osmotic technology platform and calls on UTHR to pay milestone fees and royalties as the drug achieves certain sales marks in the United States and other countries.
UTHR shares are now down 1.5% as the stock gives in to moderate profit-taking after rising to a new, all-time high-water mark earlier.
In other sector news,
(+) IMUC, (+11.5%) First patient receives the company's ICT-121 cancer vaccine in Phase I testing of the prospective brain cancer treatement in patients with recurrent glioblastoma.
(-) UTHR, (-1.5%) Jefferies Group boosts its price target for the drug-maker by $15 to $91 a share.