Sector Update: Health Care Stocks Catching Up With Late Market Declines

Last Updated: Wednesday, January 26, 2022 4:01 PM | MT Newswires

Health care stocks also were falling in late trade this afternoon, with the NYSE Health Care Index sinking 1.1% and the SPDR Health Care Select Sector ETF (XLV) down 0.8%.

The Nasdaq Biotechnology index was posting a 1.0% decline.

In company news, Aligos Therapeutics (ALGS) was falling 2.8% late in Wednesday tradin after saying it dosed the first patient with chronic hepatitis B in a phase I study of its ALG-020572 antisense oligonucleotide. During the ascending dose phase of the trial, the hepatitis B patients will receive seven subcutaneous doses of ALG-020572 over 29 days, the company said.

Hepion Pharmaceuticals (HEPA) was falling 3.5%, reversing an equal-sized advance that came after the drugmaker said mice treated with a combination of its rencofilstat drug candidate and an antibody showed 69% less liver tumor growth after 28 days and survived longer compared with mice treated with the antibody alone. Mice in the non-clinical study were first fed a diet rich in fat, cholesterol, and sugar for three months to produce fatty livers, which was then followed by surgical implantation of cancerous cells.

Tyme Technologies (TYME) fell almost 38%, earlier sinking 45% to an all-time low, after the cancer metabolism-based therapies company Wednesday said pulled the plug on Phase 2/3 testing of its SM-88 drug candidate and a combination of several three previously approved medications in patients with metastatic pancreatic cancer after the trial sponsor said patients receiving standard cancer therapies were living longer with patients in SM-88 arm.

Immunocore Holdings (IMCR) climbed 6.5% after the US Food and Drug Administration approved its Kimmtrak T cell receptor therapeutic for the treatment of a rare and aggressive form of skin cancer affecting the eyes.

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