Positive clinical data propped up a variety of health stocks as a new month and a new quarter started on Wall Street. The exception, Adventrx Pharmaceuticals ( ANX), caved Monday after the company announced that its experimental ANX-510 for metastatic colorectal cancer failed in a phase IIb study. Shares lost $1.95, or 76%, to 62 cents. Among the winners, Oncolytics ( ONCY) reported positive interim results of a U.K.-based phase Ia/Ib trial on a Reolysin and radiation combination for patients with advanced or metastatic cancers. The primary objective of the trial was to find the maximum tolerated dose, dose-limiting toxicity and safety profile of Reolysin in patients receiving radiation treatment who've been diagnosed with advanced or metastatic solid tumors that haven't responded to standard therapy or for which no curative therapy exists. Shares gained 18 cents, or 9.5%, to $2.07. Abbott ( ABT) said a 12-week extension to a phase II study on ABT-874, an investigational treatment for psoriasis, showed the majority of the patients maintained a high level of response following the discontinuation of therapy. Abbott rose 84 cents, or 1.6%, to $54.46. Regeneron Pharmaceuticals ( REGN) climbed after the company and Bayer ( BAY) announced positive results from the full analysis of a phase II study on the VEGF Trap-Eye in wet age-related macular degeneration. The VEGF Trap-Eye met the study's primary endpoint of a statistically significant reduction in retinal thickness after 12 weeks compared to the baseline. The companies said there was also statistically significant improvement in visual acuity. Regeneron rose 55 cents, or 3.1%, to $18.35. The stock is a component of the Nasdaq biotechnology index, which was up 1.1% to 863.32.
Stocks soar as the gross domestic product rises at an annualized rate of 3.5% in the third quarter and continuing jobless claims fall. Gregg Greenberg recaps the action in The Real Story video (above).