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Health Care Sector Update for 07/27/2020: OCGN,TCRR,JNJ

Health care stocks were mostly higher, with the NYSE Health Care Index rising 0.5% while the SPDR Health Care Select Sector ETF was up 0.7%.

The Nasdaq Biotechnology index was climbing more than 1.8%.

In company news, Ocugen (OCGN) rallied Monday, rising almost 46% in recent trading, after its OCU400 experimental treatment for retinal degenerative disease with the RHO genetic mutation received an orphan drug designation by the US Food and Drug Administration. OCU400 is being developed to restore retinal integrity and function across a wide range of inherited retinal diseases.

TCR2 Therapeutics (TCRR) advanced more than 22% after the firm reported positive interim data from phase I/II testing of its TC-210 drug candidate to treat mesothelin-expressing solid tumors, saying it helped in tumor regression and provided clinical benefit in heavily pretreated cancer patients.

Johnson & Johnson (JNJ) declined fractionally after the company warned in a regulatory filing on Friday that proposed changes in federal tax rules could limit the tax deductions it can take under a deal to settle opioid-related litigation and materially affect its financial results for the reporting period when the new rules are finalized.

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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