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Sector Update: Health Care Stocks Trailing Thursday Field Higher

4:00PM ET 12/02/2021 MT Newswires
Health care stocks were ending off Thursday's pace, with the NYSE Health Care Index rising 0.5% this afternoon while the SPDR Health Care Select Sector ETF (XLV) also was up 0.8%.

The Nasdaq Biotechnology index was adding 0.6% this afternoon.

In company news, Context Therapeutics (CNTX) shed 20% of its former value after the oncology company announced a $31.3 million private placement of 5 million shares priced at $6.25 each, or 12.7% under Wednesday's closing price. Investors also received an equal number of 66-month warrants to buy an additional share exercisable at $6.25 a share.

Fulgent Genetics (FLGT) turned fractionally 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.

Among gainers, BioFrontera (BFRI) soared almost 23% 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 next year is scheduled for phase III testing in patients with scaly patches on their face and scalp due to excessive sun exposure.

Omeros (OMER) climbed 7% after the biopharmaceuticals company said it was selling its OMIDRIA franchise to Rayner Surgical Group in a deal valued at more than $1 billion.