Sector Update: Health Care Stocks Retreat Late Afternoon

MT Newswires Live01-17 04:57

Health care stocks declined late Friday afternoon, with the NYSE Health Care Index easing 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.

The iShares Biotechnology ETF (IBB) decreased 0.4%.

In corporate news, Telix Pharmaceuticals (TLX) shares rose 4.3% after it said Friday it has dosed its first US patient in a phase 3 trial for prostate cancer diagnosis.

Arbutus Biopharma (ABUS) shares fell past 14% after the Board of Appeal of the European Patent Office verbally revoked the company's patent EP 2279254. The decision followed notices of opposition filed by affiliates of Moderna (MRNA) and Merck (MRK), Arbutus said.

Novo Nordisk's (NVO) Wegovy in a maximum dose of up to 7.2 milligrams per week has received approval from the UK's Medicines and Healthcare products Regulatory Agency for patients with obesity only, the regulator said. Novo shares jumped 9%.

ImmunityBio (IBRX) shares soared nearly 40% after it said Friday the latest efficacy and safety results from an ongoing clinical trial of its CD19 CAR-NK cell therapy in Waldenstrom non-Hodgkin lymphoma showed complete responses extending to 15 months and ongoing, with 100% disease control observed to date.

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