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Sector Update: Health Care Stocks Higher But Log Lowest Gains Among Sectors

1:41PM ET 12/02/2021 MT Newswires
Health care stocks were trending higher this afternoon, with the NYSE Health Care Index rising 0.5% while the SPDR Health Care Select Sector ETF (XLV) was up 0.6%.

The Nasdaq Biotechnology index was adding 0.1%.

In company news, BioFrontera (BFRI) soared almost 32% after the biopharmaceuticals company said it received a US patent for its pain-reducing illumination protocol combining its Ameluz medication with RhodoLED lamp. The illumination protocol is scheduled for phase III testing in patients with actinic keratoses on their face and scalp next year.

Omeros (OMER) climbed 4.3% after the biopharmaceuticals company said it was selling its OMIDRIA franchise to Rayner Surgical Group in a deal valued at more than $1 billion.

Fulgent Genetics (FLGT) turned 2.2% lower this afternoon, giving back a 3.5% advance earlier that followed the company saying its RT-PCR test for COVID-19 can detect the omicron variant of the coronavirus.