Health Care Sector Update for 11/25/2015: CTIX,GENE,PTCT
Top Health Care Stocks
Health care stocks were mostly higher today, with the NYSE Health Care Index advancing over 0.6% while shares of health care companies in the S&P 500 also were up about 0.6% as a group.
In company news, drugmaker Cellceutix Corp. ( CTIX ) rallied Wednesday after today saying it has received a Fast-Track designation from the U.S. Food and Drug Administration for its Brilacidin-OM drug candidate, an oral rinse to prevent mucositis.
Brilacidin-OM currently is in Phase II testing to evaluate its safety and efficacy in treating the painful mouth inflamation and sores often occuring for patients undergoing treatment for neck and head cancers. Enrollment is currently underway at seven clinical sites and two satellite locations, with additional sites expected to also open over the next several weeks.
CTIX shares were up nearly 16% this afternoon at $1.82 each, easing from a previous run to $1.96 a share.
In other sector news,
(+) VEEV, (+4.9%) Non-GAAP net income of $0.12 per share beats Street view by $0.01 per share. Revenue rises 28% over year-ago levels to $106.9 mln, also topping the $103.6 mln consensus call. Projected FY16 earnings of $0.46 to $0.47 per share top Capital IQ consensus by at least $0.01 per share.
(-) PTCT, (-5.0%) Reduced to Underperform from Hold at Jefferies, which also cut its price target for the stock by $8 to $18 a share.
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