Health care stocks continued their slide this afternoon, with the NYSE Health Care Index declining 1.3% while the SPDR Health Care Select Sector ETF was down 1.5% in late trade. The Nasdaq Biotechnology index was dropping 1.8% this afternoon.
Among health care stocks moving on news:
(-) Novan (NOVN) fell over 14% after saying US regulators have agreed to an additional late-stage trial of its SB206 drug candidate to support a future new drug application for the prospective anti-viral gel treatment for certain types of skin infections. The company on Friday also said Japanese drugmaker Sato Pharmaceutical plans to soon begin phase I testing of SB-206 in Japan under the companies' development and commercialization agreement.
In other sector news:
(+) electroCore (ECOR) rose over 35% 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.
(+) 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.
(-) La Jolla Pharmaceutical (LJPC) climbed 1.7% after the specialty drugmaker Friday said 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 the European Commission but is not yet commercially available in the EU.
Price: 0.38, Change: -0.06, Percent Change: -13.75
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