Lower open even as construction spending climbs

Construction spending rose at the quickest pace in six years but the markets opened lower with the Dow slipping 5 points to 18,005. Nasdaq lost 16 points to 5,053.

On the upside

ImmunoGen (Nasdaq: IMGN) reported upbeat from an ongoing Phase 1 trial of FRa-targeting antibody conjugate mirvetuximab soravtansine.

CTI BioPharma (Nasdaq: CTIC) reported positive data from a Phase 3 registration-directed trial of pacritinib to treat myelofibrosis.

Oncothyreon (Nasdaq: ONTY) presented positive data from several ongoing trials of ONT-380 in treating breast cancer.
 
On the downside

Shares of Transgenomic (Nasdaq: TBIO) continued falling.

Brean Capital downgraded Mirati Therapeutics (Nasdaq: MRTX) to a Hold rating from a Buy rating.

BioDelivery Sciences (Nasdaq: BDSI) increased its debt financing from MidCap Financial to $30 million.
 
In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 3 points to 2103. Bitcoin slipped $2 to $228.

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