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Technology Sector Update for 04/18/2017: ADMS,XOMA,MATN

April 18, 2017
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Top Health Care Stocks

JNJ -3.03%

PFE -0.59%

MRK +0.44%

ABT -0.79%

AMGN -0.33%

Health care stocks still were leading the U.S. markets lower, with the NYSE Health Care Index losing over 0.9% while shares of health care companies in the S&P 500 were down almost 1.0% as a group.

In company news, shares of Adamas Pharmaceuticals ( ADMS ) were climbing back near positive ground Tuesday afternoon following the specialty drug-maker saying it will present data from late-stage testing of its ADS-5102 drug candidate to control involuntary muscle movement in patients taking Levadopa to treat their Parkinson’s disease at an upcoming industry conference starting this weekend.

Initial data from the Phase III study issued almost a year-ago showed ADS-5102 produced a statistically significant improvement in reducing levodopa-induced dyskinesia in Parkinson’s patients after 12 weeks compared with patients who were treated with a placebo, falling 42% compared with 19% in the placebo group. The improvement also continued at 24 weeks, a key secondary analysis.

Federal regulators currently are reviewing the Phase III data under a new drug application for ADS-5102 with a Prescription Drug User Fee Act date set for Aug. 24. This weekend’s presentations at the American Academy of Neurology annual meeting in Boston include poster presentations on Sunday, April 23, as well as an oral presentation next Friday afternoon, April 28.

ADMS shares were down almost 1% this afternoon at $15.92 each, recovering somewhat from a session low of $15.71 a share earlier today.

In other sector news,

(+) XOMA, Last week presents positive pre-clinical study data for its anti-PTH1R antagonist monoclonal antibody, concluding it has the potential to become a first-in-class therapy for hyperparathyroidism and humoral hypercalcemia of malignancy.

(-) MATN, Said no significant safety issues were identified during ongoing Phase II/III trial of its CA4P triplet drug combination in patients with platinum resistant ovarian cancer.

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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