were among the best-performing health-related stocks Tuesday, rising 55% after the drug discovery company said that data from its phase II study of Xyotax showed that women with non-small cell lung cancer taking Xyotax plus carboplatin had a better probability of living a year than men who received the same drug regimen.
In a single-arm study known as PGT202, 35 women who received the drug regimen had a 36% probability of living at least a year. Of the 39 men using the same treatment, only 16% had a probability of living a year. "To the best of our knowledge this is the first time a drug therapy for advanced lung cancer has consistently demonstrated such a strong survival advantage for women compared to men or compared to women randomized to treatment with standard chemotherapy," the company said.
In August, Cell Therapeutics laid out plans -- based on the results of its Stellar 3 and 4 trials -- to file a new drug application in the U.S. and a marketing authorization application in Europe in 2006. Shares were trading up $1.16 to $3.28.
Rita Medical Systems
( RITA) fell 5% after the medical device company delayed shipments of its recently launched Habib 4X resection device. "During routine monitoring of customer experiences with the product in the field the company received isolated reports that the sterile packaging of some products had been compromised during shipping," the company said. Rita said that it would not resume shipment of the product in the U.S. until a packaging redesign is implemented and validated by the manufacturer. Rita said it would need to approve the redesign as well. "As a result of our actions, we expect to realize nominal revenue from the Habib device in the third quarter of 2005 and all existing and future orders will be backlogged until the packaging issue has been addressed," the company concluded. Shares were trading down 18 cents to $3.57.
( DJO) rose 1% after the company raised its third-quarter sales outlook. The medical device company now expects sales of $70 million to $71 million, up from previous guidance of $68 million to $69 million. Analysts surveyed by Thomson First Call had been expecting sales of $68.8 million. Guidance includes incremental sales from the orthopedic soft goods business that DJ acquired from Encore Medical on Aug. 8. During last year's third quarter the company posted sales of $62.5 million. Shares were recently trading up 14 cents to $28.30.
( TPTH) fell 12% after the maker of diagnostic tests said it withdrew the premarket approval supplement it had previously submitted to the Food and Drug Administration for its FocalPoint GS imaging system. The move came after the FDA notified the company that additional data would be needed to support the intended claims made by the company. TriPath, which said it would collect additional clinical data to support the claims, plans to initiate discussions with the FDA regarding the new requirements. The company believes it will submit the PMA supplement in 2006. Shares were trading down 96 cents to $6.88.
Endo Pharmaceuticals Holdings
fell modestly after the company said that it would sell 26 million shares in a secondary stock offering. The bulk of the selling is being done by Endo's largest shareholder, Endo Pharma LLC, which is an affiliate of Kelso & Co. Following the sale, Endo Pharma will own about 20.5% of Endo's outstanding stock. As of Sept. 2, Endo Pharma owned a total of 63,312,284 shares, or about 48% of Endo's outstanding stock. In addition to the stock being sold by Endo Pharma, certain executive stockholders and directors of Endo Pharmaceuticals are selling stock as well. Finally, Endo Pharmaceuticals will not receive any proceeds from the secondary offering. Shares were trading down 8 cents to $28.86.
Other health care volume movers included
, down 10 cents to $25.09;
, down $1.30 to $80.75;
( WC), up $4.89 to $75.49;
, down 14 cents to $74.95;
, up 18 cents to $11.23;
, down 34 cents to $27.49;
, up 23 cents to $42.89;
Johnson & Johnson
, down 55 cents to $63.32;
, up 7 cents to $24.20; and
( SGP), up 17 cents to $20.96.