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Healthcare Stocks Falling Back to Near Even; Ariad Pharma Rises After Starting New Testing of Cancer Drug

By: MT Newswires
Posted: 3/28/2014 3:24:00 PM
Referenced Stocks: ARIA

Top Healthcare Stocks

JNJ +0.06%

PFE -0.62%

ABT -0.26%

MRK +0.66%

AMGN -1.05%

Healthcare stocks were mixed this afternoon with the NYSE Healthcare Sector Index climbing less than 0.1% and shares of healthcare companies in the S&P 500 falling 0.2% as a group.

In company news, Ariad Pharmaceuticals ( ARIA ) was holding on to a 4% advance shortly before Friday's closing bell and the drugmaker saying it has begun Phase II testing of its AP26113 drug candidate in patients with certain types of non-small cell lung cancer.

The trial will enroll about 220 patients who previously were treated with another chemotherapy drug, crizotinib, with a primary end-point of an improved response rate. The testing also will measure time to response, duration of response, disease control rate, progression-free survival, overall survival, safety, and tolerability of the drug.

ARIA shares were up nearly 8% during today's session, more recently drifting back to a 4% gain at $7.90 apiece. The stock has a 52-week range of $2.15 to $23.00 a share.

In other sector news,

(+) INGN, Q4 total revenue rises 43% year over year to $19.8 mln, beating Capital IQ consensus by $1.09 mln. Reports adjusted net income of $164,000, or $0.01 per share, up from $0.00 last year but trailing Street view by $0.01.

(-) ECYT, Prices public offering of 4.5 mln shares of its common stock at $21 each, generating around $94.5 mln in gross proceeds.