|Healthcare Review: Synta Pharmaceuticals , Sunshine Heart, Avanir Pharmaceuticals, Threshold Pharmaceuticals Are Notable Losers|
|By Staff and Wire Reports|
|Monday, 01 October 2012 14:13|
U.S. stocks pared gains, with the Nasdaq turning negative on Monday as Federal Reserve Chairman Ben Bernanke delivered a broad defense of the central bank's controversial bond-buying stimulus plan.
Several healthcare stocks are making notable news at mid day on Monday.
Synta Pharmaceuticals Corp.(NASDAQ:SNTA) shares increased 12.34% to $8.56 after the company announced results from an interim analysis of the Phase 2b portion of the GALAXY trial, a global, randomized, multi-center Phase 2b/3 study designed to evaluate the efficacy and safety of the Company’s lead Hsp90 inhibitor, ganetespib, as second-line treatment for advanced non-small cell lung cancer (NSCLC). The results showed good tolerability for the combination of ganetespib (G) and docetaxel (D), as well as meaningful improvements in overall survival (OS) in adenocarcinoma patients receiving docetaxel plus ganetespib compared to those receiving docetaxel alone.
Ariad Pharmaceuticals, Inc.(NASDAQ:ARIA) shares declined 1.03% to $23.96. The company, on Sept. 27, announced it has completed the rolling submission of the New Drug Application (NDA) for its investigational BCR-ABL inhibitor, ponatinib, to the U.S. Food and Drug Administration (FDA). The company is seeking U.S. marketing approval of ponatinib in patients with resistant or intolerant chronic myeloid leukemia (CML) and Philadelphia-chromosome positive acute lymphoblastic leukemia (Ph+ ALL). The Company has requested accelerated approval and a priority review of the ponatinib application by the FDA.
The company further added that following the receipt of the FDA approval, it intends to initiate a pivotal trial in North America in the fourth quarter of 2012.
Stryker Corporation(NYSE:SYK) shares fell 0.56% to $55.35 in the early hour after the company today said that it is expanding the recall for certain models of its Neptune Waste Management System, noting these devices don't currently have the required clearance from the Food and Drug Administration. The company had initiated a Class 1 recall in June for certain models of its Neptune Waste Management System, which is used to collect and dispose of surgical fluid waste.