Health Care Sector Update for 04/26/2024: PTCT, PFE, RMD, BDRX

Health care stocks were advancing late Friday afternoon, with the NYSE Health Care Index adding 0.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.

The iShares Biotechnology ETF (IBB) rose 0.7%.

In corporate news, PTC Therapeutics (PTCT) shares jumped 13%, a day after the company posted Q1 results topping consensus estimates.

Pfizer (PFE) said Friday the US Food and Drug Administration has approved Beqvez to treat hemophilia B, a rare genetic bleeding disorder, in adult patients. Its shares added 0.8%.

ResMed (RMD) shares surged 19% after the company reported fiscal Q3 non-GAAP earnings of $2.13 per diluted share, up from $1.68 a year earlier. Analysts surveyed by Capital IQ expected $1.91.

Biodexa Pharmaceuticals (BDRX) soared 73% after it said Friday it has signed a deal with Emtora Biosciences for the exclusive, global rights for eRapa, a phase 3-ready drug to treat familial adenomatous polyposis, an inherited disease that affects the gastrointestinal tract.

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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