Top Health Care Stocks
Health care stocks were moderately higher, with the NYSE Health Care Index climbing about 0.2% while shares of health care companies in the S&P 500 were up just more than 0.4% as a group.
In company news, Seattle Genetics ( SGEN ) declined Tuesday after federal regulators suspended early-stage testing of the biotech company's SGN-CD33A product candidate after four patients with acute myeloid leukemia died of apparent drug-induced liver damage.
The U.S. Food and Drug Administration began the holds after six patients who were treated with SGN-CD33A and received allogeneic stem cell transplants developed hepatotoxic symptoms, including several cases of veno-occlusive disease. The agency placed a full hold on Phase I/II testing of SGN-CD33A as a monotherapy and was limiting treatment in two other Phase I trials either alone or combined with other therapies to existing patients with no new enrollments.
SGEN shares were down 16% at $51.94 apiece, previously sinking to a session low of $51.64 a share.
In other sector news,
(+) CAPN, (+6.3%) Acquires privately held Essentialis for undisclosed amount, creating a company focused on advancing diazoxide choline controlled release tablet for Prader-Willi syndrome and other rare-disease therapeutics. Deal still requires CAPN shareholder approval.
(-) ELGX, (-19.6%) Announces voluntary hold on shipments of its AFX Endovascular AAA System pending completion of an investigation into a manufacturing issue with some sizes of the abdominal aortic aneurysm repair device.
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