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Healthcare Stocks Just Underwater at Close; Achillion Pharma Nearing Human Trials For Hepatitis C Drug

Posted
11/12/2013 3:47:00 PM
By: MT Newswires
Referenced Stocks:ACHN

Top Healthcare Stocks

JNJ -0.96%

PFE +0.54%

ABT -1.19%

MRK +0.98%

AMGN -0.50%

Healthcare stocks are just slightly lower with the NYSE Healthcare Sector Index retreating less than 0.1% and shares of healthcare companies in the S&P 500 falling about 0.1% as a group.

In company news, Achillion Pharmaceuticals Inc. ( ACHN ) is finishing with a nearly 9% advance at $2.72 a share and the drug-maker earlier today it expects to soon complete preclinical work needed to begin first-in-human trials with its ACH-3422 drug candidate - an uridine-analog nucleotide prodrug and prospective treatment for chronic hepatitis C.

The company today also reported a Q3 net loss of $15.3 million, or $0.20 per share, matching analyst expectations for the quarter. It finished the quarter with about $173.1 million in cash and equivalents.

In other sector news,

(+) VNDA, FDA concludes the company's Tasimelteon drug candidate is effective treating Non-24-Hour disorder in the total blind, the first treatment since the disorder was identified in 1948.

(-) SRPT, FDA pulls the company's Eteplirsen drug candidate off the fast track for approval, citing "considerable doubts" about results from a small Phase II study of the prospective treatment for Duchenne muscular dystrophy.