Individual health stocks and drug sector tracking indices were by and large posting gains Monday as a mix of trial data, regulatory actions and ratings changes lifted the group.
One of the big winners was
, which surged 30% earlier after it presented positive data on its Alzheimer's treatment.
was up 3.2% to $14.40 on news it initiated a phase III trial with the Parkinson's disease psychosis treatment Pimavanserin.
The company said the multicenter trial will include 240 patients with the condition, and the primary endpoint will be antipsychotic efficacy with a secondary endpoint of motoric tolerability.
Reporting promising data on a
stem-cell based treatment for spinal-cord injuries boosted biotechnology company
1.9% to $8.84.
The Nasdaq biotechnology index, which includes both Acadia and Geron, was up 0.9% to 820.65.
In the regulatory arena,
was gaining 3.2% to $7.84 after it received European clearance for its OraQuick Advance, a rapid HIV test. The company will now be able to sell the test in 27 countries in the European Union.
Also, the Food and Drug Administration gave
approval for new claims on two of its V.A.C. therapy systems, but the company's shares were down 0.9% to $49.54.
was up 0.7% to $10.57 after getting an upgrade, and
Valeant Pharmaceuticals International
advanced 3.9% to $17.44 after setting plans for a $200 million stock buyback.