NEW YORK, NY / ACCESSWIRE / June 7, 2017 / U.S. markets fell for the second consecutive day on geopolitical concerns. Inventors appear to be cautious ahead of upcoming events such as the U.K. general election, testimony by former FBI director James Comey and a policy meeting of the European Central Bank, all of which are scheduled for Thursday. The Dow Jones Industrial Average declined 0.23 percent to close at 21,136.23, while the S&P 500 Index dipped 0.28 percent to close at 2,429.33.
"We expect sideways markets over the short-term due to seasonality—summer months tend to be quieter—and investors continue to react to headline news," said Lisa Kopp, head of Traditional Investments Group at U.S. Bank Wealth Management.
RDI Initiates Coverage on:
Acorda Therapeutics Inc.
GlycoMimetics' shares jumped 11.31 percent to close at $12.30 a share on Tuesday. The stock traded between $11.20 and $12.43 on volume of 2.56 million shares traded. On June 5th, the company presented new and updated data from the Phase 2 portion of its ongoing Phase 1/2 clinical trial of its drug candidate GMI-1271, an E-selectin antagonist being developed as a treatment for patients with acute myeloid leukemia (AML), at the 2017 annual meeting of the American Society for Clinical Oncology (ASCO) in Chicago. Shares of GlycoMimetics have gained approximately 101.64 percent year-to-date.
"We are excited to share this promising new data for GMI-1271, which continue to support the potential for this new drug candidate to treat AML, a disease that has often eluded medical interventions thus far," said Rachel King, Chief Executive Officer of GlycoMimetics. "We are increasingly optimistic that GMI-1271 may help address unmet needs in this and other cancers."
Access RDI's GlycoMimetics Research Report at:
Acorda Therapeutics' shares gained 0.33 percent to close at $15.35 a share on Tuesday. The stock traded between $15.00 and $17.10 on volume of 3.37 million shares traded. On June 5th, the company presented data from its Phase 3 SPAN-PD clinical trial of CVT-301 (levodopa inhalation powder) that showed a statistically significant, clinically meaningful improvement in motor function in people with Parkinson's experiencing OFF periods. Acorda is developing CVT-301 as a treatment for symptoms of OFF periods in people with Parkinson's taking a carbidopa / levodopa regimen. OFF periods refer to the re-emergence of Parkinson's symptoms. Shares of Acorda Therapeutics have fallen approximately 18.35 percent year-to-date.
Access RDI's Acorda Therapeutics Research Report at:
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