Top Health Care Stocks
JNJ +1.19%
PFE +1.09%
ABT +1.37%
MRK +1.29%
AMGN -0.41%
Health care stocks continue to show relative strength today, with the NYSE Health Care Index rising over 0.7% while shares of health care companies in the S&P 500 were up more than 0.4% as a group.
In company news, Onconova Therapeutics ( ONTX ) dropped to a new record low on Tuesday, falling to a worst-ever $1.32 a share and reversing a nearly 7% advance that followed the biopharmaceuticals company today presenting data showing the oral form of its rigosertib lead product candidate produced high rates of transfusion reduction during Phase II testing in patients with in myelodysplastic syndromes, a group of disorders caused by poorly formed and dysfunctional blood cells.
According to the company, 20 - or 32% - of the 62 evaluable patients did not require any additional transfusions following their treatment with rigosertib, with the rate of transfusion independence climbing as high as 44% in a subset of 34 patients intermittenly dosed with 1120 milligrams of the drug over a 24-hour period over a three-week span.
In other sector news,
(+) GSK, FDA approves supplemental biologics licence application for its Nucala drug therapy as the first target treatment for a rare disorder characterized by inflamed blood vessels and leading to major organ damage. Also reports a 60% response rate for its GSK2857916 drug candidate in patients with multiple myeloma.
(-) DXTR, Files for voluntary Chapter 11 bankruptcy protection and announces a concurrent $17.3 mln asset-sale to Aesculap Inc., an affiliate of the B. Braun Group.
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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.
