Health care stocks led the broader markets higher for a second session in a row, with the NYSE Health Care Index Wednesday rising 1.6% while the SPDR Health Care Select Sector ETF was up 1.4%.
The Nasdaq Biotechnology index also was climbing 1.7% this afternoon.
In company news, Genetic Technologies Ltd (GENE) rallied Wednesday, at one point climbing 358% to its highest share price since December 2015 at $10.30, after saying it has filed for a provisional patent in Australia for its test to measure the severity risk of patients to COVID-19. The company currently is seeking regulatory approval in the United States and Australia for its polygenic risk score to predict "disease severity" for COVID-19.
Moleculin Biotech (MBRX) jumped out to a more than 36% gain after Wednesday announcing a new partnership with Sterling Pharma to produce its WP1122 treatment candidate for COVID-19 ahead of filing an investigational new drug application with US regulators.
Oramed Pharmaceuticals (ORMP) was over 13% higher after the firm said it will launch a pair of phase III trials on its ORMD-0801 oral insulin product following an FDA review. If the upcoming testing is successful, Oramed plans to apply for a biologics license, which would provide 12 years of marketing exclusivity for ORMD-0801.
Can-Fite Biopharma Ltd (CANF) rose 10% after the company said it expects to file an investigational new drug application before the end of July for its piclidenoson drug candidate as a potential treatment for COVID-19 patients with moderate symptoms. The company also said it recently revised its phase II study of piclidenoson following feedback from the US Food and Drug Administration.
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