Health Care Sector Update for 12/01/2016: ARDM,BSTG,HTBX

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Top Health Care Stocks

JNJ -0.23%

PFE -1.93%

MRK -1.71%

ABT -0.65%

AMGN -0.92%

Health care stocks were mostly lower today, with the NYSE Health Care Index slipping about 0.8% while shares of health care companies in the S&P 500 also were down nearly 0.9% as a group.

In company news, Aradigm Corp ( ARDM ) shares plunged to a record low on Thursday after the pharmaceuticals company released top-line results from a pair of phase III clinical trials of its Pulmaquin drug candidate to treat chronic lung infections, finding widely different efficacy levels between the two trials.

In one of the trials, the company found the inhaled antibiotic produced a statistically significant 37% increase in the median amount of time before patients saw their first instance of a pulmonary exacerbation compared with patients receiving a placebo. But in the other trial, the increase was only 16% between the Pulmaquin and placebo arms, which was not considered a statistically significant difference, the company said.

ARDM shares were down over 57% at $2.25 apiece, earlier sinking to a worst-ever $2.13 a share.

In other sector news,

(+) BSTG, (+27.5%) Confirms Cellspan esophageal implant receives Orphan Drug designation following substantive pre-IND meeting with the FDA. Expects to begin phase I first-in-human clinical trial before the end of 2017.

(-) HTBX, (-62.4%) Reports HS-410 prospective vaccine for bladder cancer produced no statistically significant difference for the primary endpoint between the vaccine and placebo trial arms.

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: ARDM , BSTG , HTBX

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