Sector Update: Health Care Stocks Falling; RXII Pharmaceuticals Climbs After Genetic Drug Appears to Hinder Scarring

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Health care stocks were lower this afternoon, with the NYSE Health Care Sector Index falling about 1.1% and shares of health care companies in the S&P 500 retreating about 0.9% as a group.

In company news, RXi Pharmaceuticals Corp ( RXII ) advanced Tuesday after the genetic therapy company said photographs of the first patients enrolled in Phase IIb testing of its RXI-109 drug candidate indicate it may be effective in suppressing recurrence of hypertrophic scars through the first three months of treatment.

The patients will continue to be monitored for another six months to determine whether the results persist over time. Complete three-month results from the current trial are expected in early 2015.

The company was planning to discuss the early test results for RXI-109 this afternoon at the BIO Investor Forum running now through Wednesday in San Francisco. The RXII presentation was scheduled to begin at 1 p.m. ET.

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Sector Update: Health Care Stocks Falling; RXII Pharmaceuticals Climbs After Genetic Drug Appears to Hinder Scarring