Sector Update: Healthcare Stocks Ease Late Afternoon
Healthcare stocks eased late Tuesday afternoon with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.2%.The iShares Biotechnology ETF (IBB) also dropped 0.2%.In corporate news, Eli Lilly (LLY) acquired 4E Therapeutics, a neuroscience firm creating chronic-pain treatments. Lilly shares fell 1%.CAMP4 Therapeutics (CAMP) shares jumped 6.1% after JPMorgan upgraded the stock to overweight from neutral and raised its price target to $9 from $5.GSK (GSK) said Health Canada approved Exdensur for severe eosinophilic asthma, which is driven by elevated white blood cells, and for chronic rhinosinusitis with nasal polyps, a condition that causes blockage and inflammation. GSK shares eased 0.1%.Oncolytics Biotech (ONCY) shares climbed 11% after the company received a US patent covering the pelareorep manufacturing process into 2044.
