Top Health Care Stocks
Health care stocks were advancing Monday afternoon, including a more than 0.5% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up nearly 0.6% as a group while the Nasdaq Biotechnology index was slipping about 0.2% in recent trading.
Among health care stocks moving on news:
+ Can-Fite Biopharma Ltd ( CANF ) climbed as much as 9% during Monday trading after the early-stage drugmaker reported new pre-clinical data supporting its choice of the primary endpoint for an ongoing phase II study of its Namodenoson drug candidate in patients with non-alcoholic fatty liver disease or non-alcoholic steatohepatitis. According to the company, Namodenoson demonstrated a highly significant effect against inflammation, necrosis, fibrosis and biliary hyperplasia in animals treated with an oral formulation of the drug. Namodenoson also produced a dramatic reduction in the ALT and AST liver enzymes to normal levels. Safety data also showed Namodenoson has a favorable profile and lack of hepatotoxicity in patients, the company said.
In other sector news:
+ Tetraphase Pharmaceuticals ( TTPH ) climbed as much as 10% on Monday after the drug-maker reported positive data for its eravacycline drug candidate, which is now under review by US and European to treat complicated intra-abdominal infections. The data showed favorable clinical and microbiological responses for eravacycline against Enterobacteriaceae and Acinetobacter baumannii as well as demonstrating resistant phenotypes and genotypes, it said.
- Neuralstem ( CUR ) rose Monday, at one point climbing almost 5%, after saying it has received a $150,000 contract from US Department of Defense to support its NSI-566 human neural stem cell line as a potential treatment for traumatic brain injuries. The upcoming research is expected to culminate with Neuralstem filing of an investigative new drug application to conduct clinical trials in patients with traumatic brain injuries.