US Markets

Health Care Sector Update for 11/08/2019: IOVA,GH,ARNA

Top Health Care Stocks

JNJ +0.27%

PFE +0.20%

ABT +0.03%

MRK +0.34%

AMGN +0.97%

Health care stocks were rising in Friday trade, with the NYSE Health Care Index climbing nearly 0.5% while the shares of health care companies in the S&P 500 also were up almost 0.4% as a group. The Nasdaq Biotechnology index was ahead 1.3%.

Among health care stocks moving on news:

(+) Iovance Biotherapeutics (IOVA) climbed 12% on Friday after the cancer immunotherapy company shared positive data from phase II testing of its lifileucel adoptive cell therapy, saying that 35% of the patients with metastatic melanoma in a second trial cohort who were treated with lifileucel demonstrated an objective response rate of 35%. The company is expecting to file a biologics license application for lifileucel with the US Food and Drug Administration in late 2020.

In other sector news:

(+) Guardant Health (GH) rose 8% after the precision oncology company significantly narrowed its Q3 net loss compared with year-ago levels and also exceeding analyst estimates. Net loss for the three months ended Sept. 30 was $0.14 per share, improving on a $1.94 per share loss last year and beating the Capital IQ consensus expecting a $0.37 per share quarterly loss.

(-) Arena Pharmaceuticals (ARNA) fell 4.5% after late Thursday reporting a wider-than-expected Q3 net loss and a 62.2% drop in revenue for the September quarter also trailing analyst estimates. The specialty drugmaker recorded a Q3 net loss of $1.46 per share, more than doubling its year-ago loss of $0.70 per share and missing the Capital IQ consensus expecting a $1.32 per share net loss. Total revenue fell to $1.35 million from $3.57 million last year, lagging the $2.06 million Street view.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

IOVA GH ARNA

Latest US Markets Videos