Health Care Sector Update for 09/29/2016: ADHD,AEGR,ITCI

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Top Health Care Stocks

JNJ -1.89%

PFE -1.96%

MRK -2.27%

ABT -2.63%

AMGN -2.33%

Health care stocks were sharply lower today, with the NYSE Health Care Index dropping nearly 2.0% while shares of health care companies in the S&P 500 were down about 1.7% as a group.

In company news, Alcobra Ltd ( ADHD ) sank to a new record low on Thursday after federal regulators halted testing of its MDX drug candidate because pre-clinical testing of the prospective treatment for attention deficit hyperactivity disorder identified adverse neurological findings.

The company has not yet received written notice from the U.S. Food and Drug Administration although in a statement today it said verbal discussions with the agency indicate the full clinical hold was not the result of data from current Phase III testing of MDX in adult ADHD patients. None of the prior trials of the drug in patients with Fragile X syndrome as well as ADHD produced any serious neurological side effects.

ADHD shares were down over 54% at $2.12 apiece in afternoon trade, earlier plunging to a worst-ever $1.95 a share.

In other sector news,

(+) AEGR, (+22.7%) Japanese regulators approve Juxtapid capsules for the treatment of homozygous familial hypercholesterolemia.

(-) ITCI, (-64.0%) ITI-007 drug candidate fails to improve schizophrenia symptoms better than a placebo or risperidone control drug at several test sites. JMP Securities cuts rating to Market Perform; RBC Capital lowers price target by $25 to $49 a share.

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: ITCI

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