Health care stocks were falling, with the NYSE Health Care Index declining 1% while the SPDR Health Care Select Sector ETF was down 1.3%. The Nasdaq Biotechnology index was dropping 1.2% this afternoon.
Among health care stocks moving on news:
(+) Incyte (INCY) was 2% higher after announcing plans for a late-stage trial of its ruxolitinib drug candidate as a potential treatment for a potential fatal immune reaction known as a cytokine storm in patients with COVID-19. The company also said it was increasing its production of ruxolitinib because of the COVID-19 pandemic.
In other sector news:
(+) electroCore (ECOR) rose almost 37% after the medical device company said it has submitted an emergency use authorization application to the US Food and Drug Administration allowing for the study and use of its gammaCore vagus nerve stimulation therapy for respiratory symptoms associated with COVID-19. The device previously received CE Mark authorization for certain respiratory indications, including asthma, bronchoconstriction, bronchospasm and COPD.
(-) La Jolla Pharmaceutical (LJPC) turned 2.6% lower this afternoon, giving back an earlier advance that followed the specialty drugmaker Friday saying it will provide its Giapreza medication for emergency use to help increase blood patients in patients with septic shock due to COVID-19. The drug recently was approved by European Commission but is not yet commercially available in the EU.
Price: 78.56, Change: +1.49, Percent Change: +1.93
|Insider Trends: Insider Sales Add to 90-Day Trend at...|
|BioSig Technologies Wins Additional Patent for its F...|
|Insider Trends: 90-Day Insider Selling Trend Prolong...|
|US Rail Traffic Falls 17% in Week Ended May 30 as 11...|
|Research Alert: CFRA Lowers Opinion On Entegris To S...|