Sector Update: Health Care Stocks Decline Premarket Monday

MT Newswires Live06-17

Health care stocks were declining premarket Monday with the Health Care Select Sector SPDR Fund (XLV) recently 0.3% lower and the iShares Biotechnology ETF (IBB) down 0.5%.

Nurix Therapeutics (NRIX) was up more than 11% after saying an ongoing phase 1a/b clinical trial of its drug NX-5948 is yielding what one of its researchers called "impressive" results for the treatment of adult patients with relapsed or refractory B-cell malignant cancers such as non-Hodgkin lymphoma.

Ovid Therapeutics (OVID) sank by over 66% after it distanced itself from Takeda (TAK) after its potential epilepsy and neurology drug soticlestat failed to meet its primary endpoints in phase 3 studies. Ovid, which sold its rights to soticlestat back to Takeda three years ago, said it was "surprised and disappointed" by the results of the studies.

Marinus Pharmaceuticals (MRNS) was down more than 7% after saying its experimental drug, intravenous ganaxolone, aimed at treating refractory status epilepticus - a condition where seizures persist despite standard treatments - did not achieve one of its primary goals in a phase 3 study, sending shares down by 8% in premarket trading.

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