Sector Update: Health Care Stocks Ending Near Session Highs

Last Updated: Wednesday, June 29, 2022 4:03 PM | MT Newswires

Health care stocks added to their Wednesday advance this afternoon, with the NYSE Health Care Index climbing 1% and the SPDR Health Care Select Sector ETF (XLV) rising 0.7%.

The Nasdaq Biotechnology index was ahead 0.4% in late trade.

In company news, Global Blood Therapeutics (GBT) rose 8% after Wednesday said started the phase 2 portion of a program evaluating GBT601 for the potential treatment of sickle cell disease.

Patterson Companies (PDCO) rose almost 11% after the dental and animal health supplies company reported non-GAAP net income of $0.71 per share for Q4, nearly doubling its $0.38 per share during the year-ago period and topping the Capital IQ consensus by $0.15 per share. Net sales grew 5.1% year-over-year to $1.64 billion, also exceeding the $1.59 billion Street view.

Can-Fite BioPharma (CANF) surged nearly 17% after the biopharmaceuticals company reported positive top-line results from a late-stage study of its Piclidenoson drug candidate, with the prospective treatment for plaque psoriasis showing a statistically significant improvement in symptoms and severity compared with a placebo. It also performed better than the active control drug, the company said.

Allena Pharmaceuticals (ALNA) soared over 118% after saying it terminated an at-the-market sales deal with B. Riley Securities after selling slightly more than 6.8 million shares.

Share this article:

Related Companies

You May Also Like

Related Articles

US Stocks Advance After Lower-Than-Expected July Inflation Print

US Stocks Higher After Lower-Than-Expected July Inflation Print

-- TSX Brief: Set To Close Up More Than 300 Pts and Nearing 19,900 Level

Sector Update: Health Care Stocks Set to Finish Moderately Higher

Related Companies