Health Care Sector Update for 07/26/2017: TTPH,ARGS,USNA

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Top Health Care Stocks

JNJ -0.56%

PFE -0.45%

ABT -0.74%

MRK -0.80%

AMGN -2.90%

Health care stocks were moderately lower, with the NYSE Health Care Index sinking nearly 0.5% this afternoon while shares of health care companies in the S&P 500 were down just more than 0.3% as a group.

In company news, Tetraphase Pharmaceuticals ( TTPH ) jumped as much as 27% on Wednesday, reaching a session high of $8.75 a share after the biopharmaceuticals company last night announced positive results from late-stage testing of its twice-daily, intravenous eravacycline drug candidate in patients with complicated intra-abdominal infections.

The Phase III trial enrolled 500 patients and showed statistical non-inferiority of eravacycline compared with another antibiotic already on the market, meropenem. The company also is developing an oral formulation of eravacycline and recently completed an early-stage trial designed to identify optimal dosing levels.

Based on the positive Phase III results, Tetraphase said it now expects to submit a new drug application to U.S. regulators during the first three months of 2018. The company also said it remains on track to receive marketing approval for eravacycline from European Union authorities.

In other sector news,

(+) ARGS, (+5.3%) All six patients with acute HIV infections show positive immune response after being treated with the company's AGS-004 anti-retroviral therapy, reaching the primary endpoint of the single-arm, open-label trial.

(-) USNA, (-14.5%) Non-GAAP Q2 EPS of $0.98 lags Capital IQ consensus by $0.08 per share. Revenue falls 0.6% from last year to $257.1 mln, missing the $273.6 mln consensus. Lowers FY17 earnings, revenue outlook below Street views. Authorizes $100 mln stock buyback program.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: TTPH , USNA

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