Sector Update: Healthcare Stocks Softer Late Afternoon
Healthcare stocks were lower late Thursday afternoon, with the NYSE Healthcare Index shedding 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4%.The iShares Biotechnology ETF (IBB) increased 0.3%.In corporate news, AstraZeneca (AZN) and its partner Ionis Pharmaceuticals (IONS) said Thursday that a phase 3 trial for eplontersen in people with transthyretin-mediated amyloid cardiomyopathy did not meet the primary efficacy endpoint. AstraZeneca shares fell 5%, and Ionis tumbled 23%.Qiagen (QGEN) is attracting early takeover interest from private equity firms, including EQT AB, Advent and KKR (KKR), with some potential bidders considering offers of at least $50 per share, Bloomberg reported. Qiagen shares jumped 10%.Fate Therapeutics (FATE) shares rose past 5% after the US Food and Drug Administration approved the company's investigational new drug application for FT839, a product candidate to treat autoimmune diseases.MetaVia (MTVA) shares climbed 11% after it said Thursday that all active patients in part 3 of its phase 1 trial for obesity drug candidate DA-1726 have completed dose titration and reached their highest planned doses of 48 mg and 64 mg.
