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