|Active Stocks: Galmed Pharmaceuticals, T2 Biosystems, Rewalk Robotics, Tekmira Pharmaceuticals, Opko Health|
|By Marilyn Mullen|
|Tuesday, 23 September 2014 13:44|
U.S. stocks were modestly lower on Tuesday, with the S&P 500 on track for its third straight daily decline as investors digested signs of slowing global growth.The day's losses were slight but broad. All ten primary S&P 500 sectors fell on the day, with consumer staples the weakest on the day, off 0.8 percent. Energy stocks were the relatively best performers, down less than 0.1 percent as crude oil rose 0.9 percent.
The FDA designates Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) aramchol Fast Track for the treatment of nonalcoholic steatohepatitis (NASH). There are currently no approved therapies for NASH. Later this year, the company intends to start a Phase 2b clinical trial evaluating aramchol in 240 NASH patients who also suffer from obesity and insulin resistance. If successful, it will serve as the basis for a pivotal Phase 3 trial.
T2 Biosystems Inc. (NASDAQ:TTOO) is up 11% to $18.73 on high volume, although off session high of $22.83. Yesterday, the FDA approved its blood test for the detection of five yeast pathogens.
Rewalk Robotics Ltd. (NASDAQ:RWLK) is up 4% on good volume as it tries to regain lost ground due to profit taking. Shares debuted at $12 on September 12 and rocketed up to $43.71 on the 15th before correcting down to $26.16 yesterday.
Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) is up 4% on robust volume in response to the news that its TKM-Ebola will be involved in the accelerated clinical trials in Africa.
Opko Health Inc. (NYSE:OPK) oral vitamin D prohormone treatment Rayaldee achieves its primary endpoints in a 216-patient 38-site Phase 3 clinical trial evaluating its safety and efficacy as a treatment for secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency. Rayaldee corrected vitamin D insufficiency in 96% of the patients in its cohort compared to 8% for placebo.