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Sector Update: Healthcare

By: MT Newswires
Posted: 1/22/2014 3:55:00 PM
Referenced Stocks: ISRG;KPTI

Healthcare stocks are mixed today with the NYSE Healthcare Sector Index falling about 0.2% and shares of healthcare companies in the S&P 500 rising 0.1% as a group.

In company news, Karyopharm Therapeutics Inc. ( KPTI ) was up 14.4% at $31.25 a share in late trade after recently presenting data to the American Society of Clinical Oncology Symposium on gastrointestinal cancers its oral Selinexor drug candidate showed preliminary evidence of antitumor activity in patients with metastatic colorectal cancer.

Additionally, data were presented on novel, oral p21-activated kinase 4 inhibitors that show anti-proliferative activity and tolerability in a preclinical pancreatic cancer model.

In other sector news,

(+) LUNA, Shares more than than doubled in price today after the company reaches a deal worth up to $40 mln to sell its shape-sensing technology for use in medical applications to Intuitive Surgical ( ISRG ).

(-) KERX, Launches $90 million public offering of its common stock. Proceeds will be used for pre-launch activities and inventory build-up for its Zerenex medication to treat hyperphosphatemia in patients with End-Stage Renal Disease.