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Sector Update: Healthcare Stocks Gain Friday Afternoon

Healthcare stocks were higher Friday afternoon, with the NYSE Healthcare Index rising 2.3% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2.5%.The iShares Biotechnology ETF (IBB) climbed 1.5%.In corporate news, Johnson & Johnson (JNJ) shares gained 3.5% after the company said Friday that a European Medicines Agency committee recommended expanding Tecvayli's approval in combination with daratumumab for adults with relapsed or refractory multiple myeloma who have received at least one prior therapy.Cumberland Pharmaceuticals (CPIX) shares jumped past 7% after the company presented updated phase 2 results showing additional evidence that ifetroban may help protect heart function in patients with Duchenne muscular dystrophy.Acadia Pharmaceuticals (ACAD) shares climbed nearly 9% after it said the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion of Daybu following a re-examination procedure, recommending approval of the drug to treat neurobehavioral symptoms of Rett syndrome in patients aged five and older.

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Wire

Cumberland Says Updated Data Support Ifetroban in Duchenne Muscular Dystrophy Cardiomyopathy

Cumberland Pharmaceuticals (CPIX) shares were up more than 5% in Friday afternoon trading after the company presented updated phase 2 results showing additional evidence that ifetroban may help protect heart function in patients with Duchenne muscular dystrophy.The company said reductions in cardiac damage markers supported previously reported improvements in left ventricular ejection fraction.Long-term data through 36 months also showed no treatment-related serious adverse events or new safety concerns.Cumberland said ifetroban treatment reduced biomarkers associated with heart muscle and cell damage while increasing proteins linked to cardioprotection and tissue repair.Price: $6.27, Change: $+0.31, Percent Change: +5.20%

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Wire

Cumberland Pharmaceuticals, Vanderbilt Health Report Positive Phase 2a Results for Ifetroban in Metastasis Prevention Study

Cumberland Pharmaceuticals (CPIX) and Vanderbilt Health reported positive phase 2a results for ifetroban in patients with high-risk solid tumors, with the study meeting its primary endpoint for safety and tolerability, the companies said Tuesday.The randomized placebo-controlled trial evaluated ifetroban in patients at high risk for early metastatic recurrence across multiple cancer types, including breast, lung, pancreatic, soft tissue, bladder, and renal cancers, the companies said.Distant metastatic recurrence occurred in 17% of patients treated with ifetroban, compared with 50% in the placebo arm, while three deaths linked to metastatic disease were reported in the placebo group and none in the ifetroban group, Cumberland Pharmaceuticals and Vanderbilt Health said.Treatment-related adverse event rates were similar between both groups, with no serious treatment-related adverse events identified, the companies said.Shares of Cumberland Pharmaceuticals were 2% lower in early Tuesday trading.Price: $5.58, Change: $-0.12, Percent Change: -2.11%

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