Sector Update: Health Care Stocks Drifting Lower

Tuesday, May 4, 2021 1:24 PM | MT Newswires

Health care stocks were moderately lower this afternoon, with the NYSE Health Care Index falling 0.4% while the SPDR Health Care Select Sector ETF also was down 0.3%.

The Nasdaq Biotechnology index was sinking 2.8%.

In company news, SmileDirectClub (SDC) declined about 19% after disclosing an April 14 cybersecurity incident it said may have a material impact on Q2 financial results, despite no evidence yet of any data loss or customer exposure.

Myriad Genetics (MYGN) rose 4% after the molecular diagnostics company reported a non-GAAP Q1 net loss of $0.06 per share, improving on an $0.08 per share adjusted loss last year, while revenue increased 5.5% over year-ago levels to $173.1 million. Analysts had been expecting a $0.15 per share non-GAAP loss on $155.4 million in revenue.

BioLineRx (BLRX) rose over 80% after saying a combination of its Motixafortide drug candidate with a granulocyte colony stimulating factor for stem-cell mobilization for autologous bone marrow transplantation in multiple myeloma patients showed "highly statistically significant evidence" favoring the combination.

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