Sector Update: Health Care Stocks Higher Late Afternoon

MT Newswires Live07-30

Health care stocks were rising late Monday afternoon, with the NYSE Health Care Index adding 0.4% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.

The iShares Biotechnology ETF (IBB) was shedding 0.1%.

In corporate news, Lipella Pharmaceuticals (LIPO) shares soared 110.1% after the company said Monday that it started the enrollment of the first people for its phase 2a trial assessing LP-310 for oral lichen planus.

vTv Therapeutics (VTVT) shares sank 23% after it said Friday that the US Food and Drug Administration has placed a clinical hold on its cadisegliatin program for type 1 diabetes.

Philips (PHG) shares jumped 13.2% after the company reported higher adjusted earnings in Q2 and maintained its full-year comparable sales outlook.

Ventyx Biosciences (VTYX) shares tumbled 22.5% after the company said a phase 2 trial of its VTX958 candidate drug for people with Crohn's disease failed to meet the primary endpoint.

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