Health Care Sector Update for 10/12/2017: AMPE,INFI,ACRX

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Top Health Care Stocks

JNJ 0.00%

PFE -0.45%

ABT +0.80%

MRK -0.09%

AMGN -0.94%

Health care stocks trimmed some of their prior losses this afternoon, with the NYSE Health Care Index declining about 0.2% while shares of health care companies in the S&P 500 also were down 0.2% as a group.

In company news, Ampio Pharmaceuticals ( AMPE ) jumped out to its best share price since June 2016 at $1.34 apiece after the biopharmaceuticals company published encouraging late-stage trial results for its Ampio experimental treatment for osteroarthritis of the knee.

According to the company, the 12-week study enrolled a total of 417 patients - believed to be the largest group assembled so far to evaluate the single-injection drug. The analysis showed the therapy was safe and well tolerated across all trial groups, with all of the patients treated with Ampion were significantly appearing more likely to respond to treatment and for a longer period compared with patients in the placebo group.

Based on FDA guidance, Ampio recently completed enrollment in the 12-week pivotal trial of Ampion, which enrolled patients with severe OAK (KL grade 4) to evaluate the efficacy of Ampion for the treatment of pain, function, and Patient Global Assessment.

In other sector news,

(+) INFI, Selected to make a late-breaking presentation of safety and activity data from Phase I/Ib testing of its IPI-549 PI3K-gamma inhibitor as a monotherapy and in combination with Opdivo, a PD-1 immune checkpoint inhibitor, at the 2017 Society for Immunotherapy of Cancer annual meeting next month and prompting a Wells Fargo upgrade to Outperform from Market Perform.

(-) ACRX, U.S. Food and Drug Administration issues a complete response letter stating the agency cannot approve the new drug application for Dsuvia in its present form. The FDA provided recommendations needed for the company to resubmit the application for the synthetic opioid analgesic for use in a medically supervised setting.

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: AMPE , INFI , ACRX

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