Health Care Sector Update for 07/20/2020: REGN,BTAI,BTAI,OPCH,AZN

Health care stocks were little changed in late Monday trading, with the NYSE Health Care Index declining 0.2% while the SPDR Health Care Select Sector ETF was up 0.3%.

The Nasdaq Biotechnology index was climbing 1.4% this afternoon.

In company news, Regeneron (REGN) rose 2.3% after privately held drugmaker Vyriad Monday said it has dosed the first patient in a mid-stage trial of a combination of its Voyager-V1 engineered virus and Regeneron's and Sanofi's (SNY) Libtayo programmed cell death receptor-1 protein in patients with difficult-to-treat cancers. The phase II study eventually expects to enroll up to 152 patients with non-small cell lung or endometrial cancers as well as melanoma or hepatocellular carcinoma. Sanofi shares were narrowly higher in late trade.

BioXcel Therapeutics (BTAI) climbed over 14% after saying its BXCL501 drug candidate met its primary endpoints during a pair of phase III trials in patients with schizophrenia and bipolar disorders, showing a statistically significant and meaningful reduction in agitation as measured by positive and negative scales after two hours. Both studies also achieved their secondary endpoints of improved excitatory component scores after as few as 20 minutes.

Option Care Health (OPCH) rose more than 10% after the infusion services company Monday said it expects to report $740.8 million in revenue for its Q2 ended June 30, up from $512.6 million during the same quarter last year and topping the three-analyst consensus call expecting $648 million in Q2 revenue, according to Capital IQ. The company is scheduled to issue its full Q2 financial results on August 4.

AstraZeneca (AZN) slipped over 3%. The company reported positive interim results from phase I/II testing of its AZD1222 vaccine candidate for COVID-19, saying 91% of the study participants demonstrated neutralizing activity against the COVID-19 virus one month after receiving a single dose while the response rate rose to 100% after receiving a second dose. Phase II/III trials are underway in the UK, Brazil and South Africa and are also slated to begin soon in the US, the company said.

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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