Markets

Sector Update: Shares Flat Pre-Market; Agenus Soars 21% on Phase 2 Trial

Top Healthcare stocks:

JNJ: flat

PFE: flat

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares were generally flat in pre-market trade on Tuesday.

In healthcare stocks news, Agenus ( AGEN ) shares were up more than 21% after it said data from a phase 2 trial showed that patients with glioblastoma multiforme who received its Prophage autologous cancer vaccine, added to the standard of care treatment, lived nearly twice as long as expected.

Prophage patients demonstrated a median overall survival of approximately 24 months and 33% of patients remain alive at 2 years and continue to be followed for survival, Agenus said in a statement.

And, Galena Biopharma, Inc. ( GALE ), a biopharmaceutical company developing and commercializing innovative, targeted oncology treatments says it was granted a U.S. Patent for NeuVax, sending shares up 11.8% in pre-market trade.

The patent covers the use of NeuVax alone or in combination to prevent recurrence of any HER2/neu expressing tumor having a fluorescence in situ hybridization rating of less than about 2.0.

Finally, CTI BioPharma ( CTIC ) was up 5.7% after it said it has completed recruitment in the PERSIST-1 pivotal phase 3 clinical trial of pacritinib for the treatment of myelofibrosis.

The biopharmaceutical company expects to complete the first treatment dosing of the last patient enrolled in PERSIST-1 by mid-Q3 2014, which would trigger a $20 million development milestone payment from Baxter ( BAX ) under a development and commercialization agreement. Top-line results are also expected to be released by early 2015.

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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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