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Health Care Sector Update for 05/31/2017: TNXP,XTNT,CGEN

Top Health Care Stocks

JNJ +0.98%

PFE +1.67%

ABT +1.42%

MRK +0.44%

AMGN +0.77%

Health care stocks rose in somewhat defensive trading today, with the NYSE Health Care Index climbing over 0.6% while shares of health care companies in the S&P 500 were up more than 0.4% as a group.

In company news, Tonix Pharmaceuticals Holding Corp. ( TNXP ) advanced on Wednesday, rising nearly 1%, after the drugmaker late yesterday reported more positive data for its TNX-102 SL drug candidate showed a statistically significant increase in sustained remission of post-traumatic stress disorder symptoms compared with a placebo after 12 weeks of Phase II testing.

During a presentation at the American Society of Clinical Psychopharmacology annual meeting in Miami Tuesday, the company said trial participants treated with TNX-102 showed improvement on the sleep disturbance scale compared with their baselines after four weeks and again after eight and 12 weeks. None of the trial participants dropped out because of adverse events - with mild tongue numbness the most common adverse reaction that was reported in either with patients receiving either 2.8 or 5.6 milligram doses - nor did the researchers observe any clinically significant changes in weight or vital signs over the 12-week study period.

The company released initial results from the study on May 23 and is now working with the U.S. Food and Drug Administration to accelerate development and registration of the drug. Enrollment for Phase III testing is now underway, with an unblinded interim analysis from roughly half of the participants on track for release during the first half of 2018.

In other sector news,

(+) XTNT, OrbiMed Advisors confirms 9.99% equity stake, now owning over 1.95 mln shares, and also changes shareholding position to active from passive.

(-) CGEN, Expects several-month delay beyond previous goal of filing investigational new drug application for its COM701 drug candidate by the end of 2017 after toxicity studies were contaminated during manufacturing process and requiring production of a new batch for upcoming trial.

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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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