Sector Update: Health Care Stocks End Higher

Last Updated: Friday, May 27, 2022 4:38 PM | MT Newswires

Health care stocks closed higher this afternoon, with the NYSE Health Care Index rising 1.1% while the SPDR Health Care Select Sector ETF (XLV) was up 1.4%.

The Nasdaq Biotechnology index also was climbing by 2.8%.

In company news, ImmunoGen (IMGN) gained 4.3% higher after saying more than 70% of patients in a Phase III study of mirvetuximab soravtansine monotherapy in patients with platinum-resistant ovarian cancers showed a reduction in the size of their tumors during the late-stage trial.

Iovance Biotherapeutics (IOVA) was retreating by more than 47% after reporting results from its study of patients with advanced melanoma. Patients in one trial cohort showed an objective response rate of 29%, with three complete and 22 partial responses.

Mirati Therapeutics (MRTX) slumped more than 53% despite reporting "positive and encouraging" data from a registration-enabling mid-stage cohort of a trial of its adagrasib drug candidate in patients with non-small cell lung cancer and harboring the KrasG12C mutation.

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