Top Health Care Stocks
Health care stocks were finishing lower Tuesday with the NYSE Health Care Sector Index dropping 0.1% and shares of health care companies in the S&P 500 falling 1.0% as a group.
In company news, TetraLogic Pharmaceuticals ( TLOG ) declined Tuesday after the company said patients treated its prospective ovarian cancer drug began to experience adverse effect at lower doses than previously expected during Phase Ib testing.
TLOG shares were down over 23% at $4.50 apiece, climbing off an earlier session low of $4.32 a share. The stock has traded within a 52-week range of $3.51 to $14.75 a share, falling about 18% over the past 12 months prior to today's retreat.
The company today said it plans to continue with the expansion phase of the study but will reduce the amount of birinapant patients will receive as well as limiting dosing to three weeks out of four. It also said that of the 18 women participating in the study so far, one has shown a partial response and two others have maintained stable diseases. Three other patients are waiting for scans.
TLOG expects to continue with the trial until 30 patients have been enrolled.
In other sector news,
(+) NVGN, Said its TRXE-009 drug candidate has been shown to be highly active against melanoma and secondary brain cancers due to melanoma during pre-clinical studies.
(-) CYCC, Data and Safety Monitoring Board concludes sapacitabine drug candidate is unlikely to extend survival in patients with acute myeloid leukemia after 70% of test subjects died within first six months of Phase III testing.
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