Health Care Sector Update for 05/23/2019: IOVA,NVCN,XBIT

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Top Health Care Stocks

JNJ -0.06%

PFE -0.61%

ABT -1.01%

MRK -0.31%

AMGN +0.20%

Health care stocks were moderately lower, including a nearly 0.5% decline for the NYSE Health Care Index this afternoon while shares of health care companies in the S&P 500 also were down almost 0.7% as a group. The Nasdaq Biotechnology index was falling 1.2%.

Among health care stocks moving on news:

(+) Iovance Biotherapeutics ( IOVA ) advanced 5% on Thursday after the immunotherapy oncology company said its LN-145 product candidate received breakthough therapy designation from the US Food and Drug Administration for patients with recurrent, metastatic or persistent cervical cancer with disease progression during or after chemotherapy.

In other sector news:

(+) Neovasc ( NVCN ) raced 41% higher after publishing data in the International Journal of Cardiology demonstrating sustained efficacy and safety of its Reducer therapy in 50 patients suffering from refractory disabling angina.

(-) XBiotech ( XBIT ) declined over 1%. The company Thursday announced plans to launch phase IIb testing of its bermekimab product candidate in patients with moderate to severe hidradenitis suppurativa, comparing the efficacy of the prospective treatment for the chronic skin disorder with patients treated with placebos. Patient enrollment is expected to begin later this summer.

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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This article appears in: Investing , US Markets
Referenced Symbols: IOVA , NVCN , XBIT

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