Healthcare sector update, amidst the plunging stock market

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December 4, 2018 2:46pm NYSE:XLV

NYSE:XLV | News, Ratings, and Charts

From MT Newswires:

Health care stocks were mixed in recent trading, including a nearly 0.1% gain for the NYSE Health Care Index Tuesday afternoon. Shares of health care companies in the S&P 500 were down almost 0.5% as a group although the the Nasdaq Biotechnology index was ahead about 1.3%.

Among health care stocks moving on news:

(+) Geron ( GERN ) declined more than 6% on Tuesday after the biopharmaceuticals company late Monday said recent phase II testing of its Imetelstat experimental treatment confirmed data from prior trials. The new data indicated a median period for overall survival of 29.9 months for patients with intermediate- or high-risk myelofibrosis who are relapsed or refractory to a Janus Kinase inhibitor in the 9.4 millegrams per kilogram dosing group, suggesting a meaningful survival outcome for a typically poor-prognosis patient population, the company said.

In other sector news:

(+) Clovis Oncology ( CLVS ) was up 5% Tuesday afternoon after the European Patent Office upheld the drugmaker’s claims of an amended European patent covering certain crystalline forms of rucaparib camsylate, including the crystalline form in the Rubraca cancer medication Clovis is developing.

(+) Pluristem Therapeutics ( PSTI ) fell 1.1% Tuesday afternoon despite the biotech saying it has signed a license agreement for its thawing device for cell-based therapies with a subsidiary of Chart Industries ( GTLS ).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The Health Care Select Sector SPDR ETF (XLV) was trading at $94.00 per share on Tuesday afternoon, down $1.41 (-1.48%). Year-to-date, XLV has gained 14.09%, versus a 2.57% rise in the benchmark S&P 500 index during the same period.

XLV currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 34 ETFs in the Health & Biotech ETFs category.

This article is brought to you courtesy of NASDAQ.

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