Top Health Care Stocks
Health care stocks were declining in late afternoon trade, with the NYSE Health Care Index sliding almost 1.1% lower while shares of health care companies in the S&P 500 were down 0.9% as a group.
In company news, ISIS Pharmaceuticals ( ISIS ) was higher in late Monday trading and the drugmaker today reporting a smaller Q3 net loss than analysts were expecting as well as reporting positive Phase II results for its ISIS-APO(a)Rx drug candidate in its ability to reduce lipoprotein(a) in patients.
The company recorded a $0.30 per share net loss, or $0.03 smaller than the Capital IQ consensus a $0.33 per share loss. Revenues rose 11.3% year over year to $49.1 million, trailing the $52.54 mln consensus.
According to the company, ISIS-APO(a)Rx reduced Lp(a) levels in study participants by as much as 94%, with a mean decline of 71% in the cardiovascular disease driver.
ISIS shares were up more than 12% to $62.73 each, earlier rising to a session high of $62.85 a share.
In other sector news,
(+) LOXO, Said LOXO-101 experimental cancer treatment demonstrated promising clinical activity and safety during Phase I testing, adding all six patients who began the study are still alive, with three showing some symptom improvement.
(-) AVXL, Reports Anavex 2-73 prospective Alzheimer’s Disease treatment showed some cognitive improvement in patients, although the positive results were largely dismissed by experts as resulting from placebo effect.
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