Markets

Health Care Sector Update for 02/16/2017: CUR,CVRS,CFMS

Top Health Care Stocks

JNJ +0.63%

PFE +0.61%

MRK -0.25%

ABT +0.17%

AMGN -0.41%

Health care stocks were slightly lower in recent trade on Thursday, with the NYSE Health Care Index slipping less than 0.1% while shares of health care companies in the S&P 500 were down 0.2% as a group.

In company news, Neuralstem ( CUR ) rallied Thursday after the early-stage biotech company said it has completed enrollment in phase II testing of its NSI-189 drug candidate to treat major depressive disorders ahead of schedule.

The company said it expects initial results from the trial during the July-to-September quarter later this year, with results from a six-month observational study to measure the drug's durability effect due during H1 of 2018.

The double-blind study randomized a total of 220 patients into three oral treatment groups, with the first group receiving 40-milligram doses of NSI-189 once a day for 12 weeks and a second group receiving 40 mg doses twice daily and the third group receiving placebos. The primary efficacy endpoint will be a reduction in depression symptoms, with researchers also measuring secondary targets such as improved objective cognition.

CUR shares were up over 14% at $3.63 each, easing somewhat from a prior climb to $4.44 a share.

In other sector news,

(+) CVRS, (+16.0%) Signs distribution agreement with a Mitsubishi subsidiary, including an initial order for 12 CorPath GRX Systems and a $2 million advance payment.

(-) CFMS, (-35.0%) Q4 net loss of $0.37 per share is $0.06 wider than the Capital IQ consensus. Revenue rises 13.6% year over year to $21.7 mln, exceeding the $21.32 mln Street view. Guides Q1, FY17 revenue below analyst means.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

SNCA CFMS

Other Topics

US Markets

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More