Top Health Care Stocks
Health care stocks have turned slightly lower this afternoon, with the NYSE Health Care Index falling about 0.1%, giving back an earlier narrow advance, while shares of health care companies in the S&P 500 were down nearly 0.3% as a group.
In company news, AVEO Oncology ( AVEO ) jumped out to an 18-month high on Friday, with shares of the specialty drugmaker climbing to their best price since December 2015 at $1.38 each after an advisory panel in Europe this week recommended the company's tivozanib medication be approved as a treatment for patients with advanced renal cell carcinoma.
The positive decision by the Committee for Medicinal Products for Human Use ( AVEO ) now moves to the European Commission ( EC ), which typically follows the committee's recommendations. A final decision is expected in around 67 days, the company said.
European Commission marketing approval will trigger a $4 million to AVEO Oncology from EUSA, its partner commercializing tivozanib throughout the region. It also is eligible for up to $12 million in additional milestone payment following reimbursement decisions from individual member states and other regulatory nods.
In other sector news,
(+) CARA, (+10.2%) The company's IV CR845 drug candidate win FDA designation as a breakthrough therapy to treat moderate-to-severe uremic pruritus in patients with chronic kidney disease undergoing hemodialysis.
(-) OCUL, (-12.0%) Names Antony Mattessich to succeed Dr. Amar Sawhney as CEO, effective on or before Sept 30.
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