Health Care Sector Update for 11/27/2018: HALO,GTHX,ACAD
Top Health Care Stocks
Health care stocks were narrowly mixed in early trading, including a nearly 0.4% decline for the shares of health care companies in the S&P 500.
Among health care stocks moving on news:
(-) Halozyme Therapeutics ( HALO ) declined nearly 13% Tuesday morning after the biotech company late Monday said the US Food and Drug Administration agreed to allow the company to change the primary endpoint of a late-stage clinical study of its PEGPH20 drug candidate as a first-line treatment in patients with metastatic pancreas cancer to a single primary endpoint of overall survival. Because of the change, a previously planned interim analysis is being scrapped, the company said.
In other sector news:
(-) G1 Therapeutics ( GTHX ) dropped almost 14% during after-hours trading Monday night after saying there was no statistically significant difference in the overall response rate and progression-free survival for patients with small cell lung cancer treated with a combination of its trilaciclib drug candidate and traditional chemotherapy and patients treated with chemotherapy alone during phase II testing. The overall response rate for patients in the trilaciclib arm of the trial was 56.0% compared with a 63.5% rate for the placebo group while the preliminary median rate of progression-free survival was 5.7 months for trilaciclib and 5.4 months for the placebo group.
(-) ACADIA Pharmaceuticals ( ACAD ) slipped over 7% on Monday night in after-hours trading after announcing plans for a $200 million public offering of its common stock. The biopharmaceutical company working to commercialize small molecule drugs to address certain central nervous system disorders also expects to provide underwriters for the deal with a 30-day option to buy up to $30 million of additional shares.
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