Top Health Care Stocks
Health care stocks were adding to their small gains shortly before Thursday's closing, with the NYSE Health Care Index climbing over 0.1% this afternoon while the shares of health care companies in the S&P 500 were up almost 0.3% as a group. The Nasdaq Biotechnology index also was hanging on to a nearly 0.3% gain.
Among health care stocks moving on news:
(-) Phio Pharmaceuticals (PHIO) advanced over 13% on Thursday after the immuno-oncology drugmaker said it was expanding its year-old research collaboration with the Karolinska Institutet in Stockholm, Sweden. Under terms of the new collaboration, the company and the Swedish medical school will study methods to reduce immune-inhibitory factors in the tumor micro-environment and also help the body overcome tumor immunosuppression using Phio Pharmaceuticals' Intasyl genetic therapy platform.
In other sector news:
(+) Canopy Growth (CGC) was trading more than 16% higher on Thursday. The Canadian medical and recreational marijuana company said it was aware of yet-to-be-certified securities class-action suits filed in the United States alleging it issued certain false and misleading statements. The company said the claims were without merit and that it will vigorously defend itself.
(-) CRISPR Therapeutics (CRSP) fell almost 12% after the gene-editing company priced a $274.1 million public offering of 4.25 million of its common shares at $64.50 apiece, or about 4% under Wednesday's closing price. Underwriters also received a 30-day option to buy up to 637,500 more shares to cover potential over-allotments.
(-) Karuna Therapeutics (KRTX) fell nearly 27% after the biopharmaceuticals company late Wednesday priced a $250 million public offering of 2.6 million common shares at $96 apiece, representing a 12% discount to its most recent closing price. The company also provided underwriters with a 30-day option to buy up to 390,000 additional shares.
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