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Health Care Sector Update for 02/17/2017: ARQL,IMNP,XTLB

Top Health Care Stocks

JNJ +0.24%

PFE -0.04%

MRK +0.66%

ABT -0.31%

AMGN +0.31%

Health care stocks were trending lower Friday, with the NYSE Health Care Index falling almost 0.3% while shares of health care companies in the S&P 500 were down about 0.2% as a group.

In company news, ArQule ( ARQL ) dropped to a 26-month low on Friday after the early-stage biotech company today said its tivantinib drug candidate failed to meet its primary endpoint of improving overall survival during Phase III testing in patients with the common form of liver cancer.

The double-blind, placebo-controlled trial enrolled a total of 340 patients with hepatocellular carcinoma who were randomized for efficacy analysis. In addition to assessing tivantinib for its ability to extend patient survival, the company and development partner Daiichi Sankyo also were measuring several secondary goals, including progression-free survival and safety.

ArQule said it plans to soon present full results from the trial at an upcoming scientific forum.

ARQL shares recently were down just under 19% at $1.19 each, recovering only slightly from a drop to its lowest price since December 2014 at $1.13 a share and stopping only 3 cents shy of its record low.

In other sector news,

(+) IMNP, (+4.1%) Discloses plans to Monday announce the upcoming launch of a clinical trial to measure remission maintenance and relapse prevention for a combination of its Ceplene lead product candidate and low-dose Proleukin in patients with acute myeloid leukemia.

(-) XTLB, (-37.6%) Announces $2.5 mln direct offering of 1 mln American depository shares at $2.50 apiece. Investors also will receive one 66-month warrant to buy another ADS at $4.04 for each share they purchase in the deal.

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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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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