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Healthcare Stocks Still Underwater; OncoMed Pops After Presenting Early Data on Cancer Drugs

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Top Healthcare Stocks

JNJ -0.70%

PFE -0.16%

ABT -1.03%

MRK -0.56%

AMGN -1.09%

Healthcare stocks are narrowly lower, with the NYSE Healthcare Sector Index sliding about 0.2% and shares of healthcare companies in the S&P 500 down more than 0.5% as a group.

In company news, OncoMed Pharmaceuticals Inc. ( OMED ) is up 5.8% at $15.61 a share, climbing as high as $16 during the session after the drug-maker presented encouraging data supporting use of its four novel anti-cancer stem cell therapeutics during an industry conference beginning today in Boston.

According to the poster presentations by the company, both its OMP-52M51 and its demcizumab drug candidates were well-tolerated in early-stage testing. OMED also said its OMP-54F28 fusion protein was well-tolerated in patients with refractory solid tumors during Phase Ib testing, adding dose escalation of the drug continues.

The company also presented data from a Phase 1a trial of its vantictumab drug candidate, saying pharmacodynamic effects of the anti-Frizzled antibody targeting the Wnt pathway, were observed in tumor biopsies, hair follicles and blood.

In other sector news,

(+) WBMD, (+9.8%) Buys back more than 5.5 mln shares owned by Carl Icahn for $32.08 apiece, or $177.3 mln overall.

(-) VAR, (-0.7%) Receives 510( K ) clearance from the FDA for its knowledge-based treatment planning software for radiation oncology.

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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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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