Top Health Care Stocks
Health care stocks were extending prior gains, with the NYSE Health Care Index climbing nearly 0.4% while shares of health care companies in the S&P 500 were up 0.3% as a group.
In company news, pSivida Corp ( PSDV ) declined Tuesday, dropping as much as 17% to a session low of $1.73 a share despite the specialty drugmaker's saying its Durasert drug candidate met its primary endpoint of preventing the recurrence of posterior uveitis during a late-stage clinical trial.
According to the company, only 21.8% of the uveitis patients treated with Durasert saw a recurrence of their disease within six months of their treatment compared with a 53.8% recurrence rate for patients in the control group.
Based on the results of the recent trial, pSivida said it expects to file a market authorization application for Durasert with European regulators by the end of June and submitting a new drug application to the U.S. Food and Drug Administration before the end of the year.
In other sector news,
(+) NURO, (+7.9%) U.S. authorities issue new patent covering the company's novel mechanisms to help users of its Quell medication safely obtain pain relief therapy over prolonged time periods.
(-) GNMK, (-8.4%) Begins $65 mln public offering of its common stock. Net proceeds will be used to fund general corporate activities and commercialization efforts.
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