Top Health Care Stocks
Health care stocks lost ground Friday but outperformed most other sectors. At last look, the NYSE Health Care Index was dropping almost 0.7% on Friday while the shares of health care companies in the S&P 500 also were down over 0.8% as a group. The Nasdaq Biotechnology index was falling nearly 1.3%.
Among health care stocks moving on news:
(+) Eyegate Pharmaceuticals ( EYEG ) was more than 1% lower on Friday, paring most of a 6% decline earlier in the session that followed the specialty drugmaker announcing a $5 million direct offering of 500,000 common shares priced at the market at $10 each. Net proceeds will be used to support Eyegate operations, including clinical studies along with working capital and other general corporate purposes.
In other sector news:
(+) Chembio Diagnostics ( CEMI ) climbed 15% after saying it expects the US Food and Drug Administration to approve its 15-minute diagnostic test to detect type 1 and 2 HIV antibodies along with syphilis-causing bacteria "within two months." The DPP HIV-Syphilis system now under agency review also includes the DPP Micro Reader, the company said.
(+) BioNTech ( BNTX ) rose almost 2% after the German biopharmaceuticals company published data showing its second generation CLDN6-CAR-T therapy resulted in complete tumor regression of transplanted human tumors in mice within two weeks of starting treatment. CAR-T cell therapy uses a body's own immune system to fight cancer and has previously demonstrated significant clinical efficacy in blood cancers but not with solid tumors.
(-) Novan ( NOVN ) plunged as much as 79% on Friday after saying it plans to begin a new late-stage trial of its SB206 drug candidate in April after the prospective treatment for molluscum contagiosum skin infections produced inconclusive top-line results during a pair of ongoing phase III trials. The company also warned it will need "substantial" funding to keep business operations going.