Markets

Health Care Sector Update for 09/06/2016: TNXP, KPTI, JNJ, PFE, ABT, MRK, AMGN

Top Health-care stocks:

JNJ: flat

PFE: +0.1%

ABT: flat

MRK: flat

AMGN: flat

Health care shares were mostly unchanged in pre-market trade Tuesday.

In health care stocks news, Karyopharm Therapeutics ( KPTI ) was up 17.2% after it said its drug Selinexor achieved positive phase 2b results in treating multiple myeloma, a type of bone-blood cancer. The company said it plans to start a phase 3 study in early 2017 to evaluate Selinexor in combination with the drugs bortezomib and dexamethasone. Based on test results, Karyopharm said it may apply for a Food and Drug Administration grant of accelerated approval of Selinexor, but also said approval is not assured.

And, Tonix Pharmaceuticals Holding ( TNXP ) fell 32.1%, eyeing a new three-year low, after the drug developer reported preliminary topline results from its phase 3 Affirm clinical study evaluating the safety and efficacy of TNX-102 SL in patients with fibromyalgia. The study did not achieve statistical significance in the primary efficacy endpoint: the proportion of patients who reported a 30% or greater reduction in pain from baseline to the end of the 12-week treatment period. However, the drug showed statistically significant effects on pain when analyzed by other standard statistical approaches.

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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