Top Health Care Stocks
Health care stocks backed down slightly from their earlier advance, including a 1.0% gain for the NYSE Health Care Index in recent trade while shares of health care companies in the S&P 500 also were up nearly 0.9% as a group. The Nasdaq Biotechnology index was climbing almost 1.3%.
Among health care stocks moving on news:
(+) G1 Therapeutics ( GTHX ) raced 26% higher on Tuesday after reporting preliminary results showing women with metastatic triple-negative breast cancer "lived significantly longer" when treated with its trilaciclib drug candidate combined with chemotherapy during phase II testing compared with chemotherapy alone. The company is planning on additional randomized trials to evaluate the myelopreservation and survival benefits of trilaciclib with other tumor types and chemotherapy regimens.
In other sector news:
(+) PhaseBio Pharmaceuticals ( PHAS ) still was nearly 9% higher in late trading, easing from a nearly 15% advance soon after Tuesday's opening bell that followed the biopharmaceuticals company saying platlet function was normalized within 15 minutes of infusion with its PB2452 drug candidate in patients with heart problems and remained normal for over 20 hours during phase IIb testing.
(+) Eiger BioPharmaceuticals ( EIGR ) climbed almost 5% after the US Food and Drug Administration late Monday designated the company's avexitide drug candidate as a breakthrough therapy for treating low glucose levels in the bloodstreams of patients following bariatric procedures to treat obesity. There currently are no FDA-approved treatments for patients experiencing hypoglycemia after bariatric surgery.
(-) Rockwell Medical ( RMTI ) dropped 31.5% after pricing a 5.8 million share offering at $3 per share for gross proceeds of $17.5 million. Proceeds will go toward Dialysate Triferic and I.V. Triferic commercialization, research and development and general corporate purposes.