Top Health Care Stocks
Health care stocks still were hanging on to small gains Friday, including a 0.2% rise for the NYSE Health Care Index in recent trade. Also, shares of health care companies in the S&P 500 were up 0.2% as a group while the Nasdaq Biotechnology index was down almost 0.7% today.
Among health care stocks moving on news:
(-) CRISPR Therapeutics AG ( CRSP ) retreated Friday, at one point falling almost 11%, after the genetic therapy company priced a $200 million public offering of 4.21 million shares of its common stock at $47.50 apiece, representing a 3% discount to Thursday's closing price for the stock. Underwriters also received a 30-day option to buy up to an 631,578 additional shares.
In other sector news:
(+) BeiGene ( BGNE ) put up a 1.5% advance on Friday after saying its its tislelizumab investigational anti-PD-1 antibody showed anti-tumor activity either of a monotherapy or in combination with several chemotherapy regimens during Phase I/II testing in Chinese patients with lung cancers. In a pair of presentations at the Chinese Society of Clinical Oncology, BeiGene also said the response rate for tislelizumab was as high as 80% in the cohort of patients with squamous non-small cell lung cancer. Discontinuation rates also were low, according to the company.
(+) Eli Lilly and Co. ( LLY ) was fractionally higher Friday afternoon, rising less than 1%, after the European Medicines Agency issued a positive opinion for its Emgality investigational treatment for prophylaxis in adults who have at least four migraines per month. The positive opinion will now move to the European Commission, which will decide whether to approve the drug candidate for use throughout the European Union.
(-) XOMA Corp ( XOMA) was 2.5% lower on Friday after saying it has acquired an undisclosed partial stake in the rights to future milestone and royalty payments associated with seven immuno-oncology antibodies now being developed by Merck ( MRK ) and Incyte ( INCY ) through their collaborations with Agenus (AGEN). Xoma paid $15 million to Agenus for the right package, explaining the investment could generate potential future cash flows over an extended period.