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Sector Update: Healthcare Stocks Gain Friday Afternoon

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Healthcare stocks rose Friday afternoon, with the NYSE Healthcare Index increasing 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.3%.

The iShares Biotechnology ETF (IBB) declined 1%.

In corporate news, Teva Pharmaceutical Industries' (TEVA) Teva Pharmaceuticals unit said Friday that a real-world study shows Austedo and Austedo XR tablets improved quality of life for Huntington's disease chorea patients and their caregivers. Teva Pharmaceutical shares were up 0.8%.

BioCardia (BCDA) said it has received confirmation from the US Food and Drug Administration that its ongoing heart failure trial may support a premarket approval of the CardiAMP Cell Therapy System for the treatment of ischemic heart failure with reduced ejection fraction. BioCardia shares climbed more than 24%.

Edesa Biotech (EDSA) said Friday that new data showed that paridiprubart combined with standard of care treatments was associated with a 32% relative reduction in mortality in patients with acute kidney injury and respiratory distress at 28 days. Edesa Biotech shares dropped 22.4%.

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