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Healthcare Stocks Ending Moderately Lower; Provetus Bio Has Subdued NYSE Reception

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Healthcare stocks were slightly lower this afternoon with the NYSE Healthcare Sector Index falling about 0.1% and shares of healthcare companies in the S&P 500 also down about 0.1% as a group.

In company news, Provectus Biopharmaceuticals ( PVCT ) got a subdued reception in its first day of trading on the New York Stock Exchange with investors showing little interest by the oncology drug company presenting new data for its potential melanoma treatment.

PVCT shares were down nearly 9% shortly before the closing bell at $3.10 apiece, earlier falling to an intra-day low of $2.83 a share. The company's stock began NYSE trade today after graduating from the over-the-counter market.

According to presentations slated for early next month at an industry conference in Chicago, PVCT said its PV-10 drug candidate may potentially offer cancer patients control of their cutaneous symptoms as well as eliciting a systemic anti-tumor immune response that may lead to response of uninjected lesions.

Early results from Phase II testing in 80 skin cancer patients saw a 28-patient subgroup who had all of their skin cancer lesions injected with PV-10 as well as another 26 patients who had all but one or two lessions injected "experienced an exceptionally high rate of response," PVCT said.

Complete responses were achieved in 232 of 363 treated lesions, it said.

In other sector news,

(+) KND, Gentiva Health Services ( GTIV ) rejects its $1.6 billion buyout proposal, saying the $14-a-share offer "significantly undervalues" the company and its prospects. GTIV shares fell today.

(-) KMDA, Said its inhaled Alpha-1 Antitrypsin drug candidate did not achieve primary end point of reducing time to first exacerbation event at one year during Phase II/III testing in patients with inherited emphysema.

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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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