Sector Update: Health Care Stocks Weighing on Afternoon Trading

Tuesday, January 12, 2021 1:45 PM | MT Newswires

Health care stocks were mostly lower Tuesday afternoon, with the NYSE Health Care Index falling 1.1% while the SPDR Health Care Select Sector ETF also was down 1.1%.

The Nasdaq Biotechnology index was slipping 0.2%.

In company news, Jaguar Health (JAGX) slid 8.3% despite the animal and human health company said it was exploring conditional approval in Europe for its Crofelemer diarrhea and inflammatory bowel disease drug candidate for patients with chronic COVID-19 symptoms. Jaguar also said it has requested meetings with the European Medicines Agency as well as regulators in the UK and Switzerland.

Among gainers, Liminal BioSciences (LMNL) climbed over 25% after the US Food and Drug Administration late Monday approved a plasma collection center operated by its Prometic Plasma Resources subsidiary in suburban Buffalo. The facility began operations early last year and is now licensed to collect and distribute human source plasma for further manufacturing with the US.

Biomerica (BMRA) surged to a nearly 24% gain after Tuesday saying it has received CE mark certification from European regulators for its new COVID-19 rapid antigen test, which can provide results within 15 minutes. The diagnostics company also said it already has received its first orders for the new test in Europe and was expecting to begin shipping in the coming weeks.

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