Sector Update: Healthcare Stocks Decline Late Afternoon
Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index decreasing 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.8%.The iShares Biotechnology ETF (IBB) fell 2.6%.In corporate news, Bausch + Lomb (BLCO) shares fell 2.9%. The company said late Thursday that results from a phase 2 trial assessing BL1107 in people with glaucoma showed the study did not meet its primary endpoint of replicating visual function improvements seen in a smaller phase 1/2a trial.Pfizer's (PFE) Q2 revenue is expected to match Wall Street's estimates, but its EPS may fall short, RBC said in a note. Separately, Pfizer's vaccine disputes with Poland and Romania continue, now extending to the countries' air traffic agencies, Bloomberg reported. Pfizer shares were fractionally higher.SL Science (SLBT) shares gained 4.4% after it said Friday it has submitted an orphan drug designation request to the US Food and Drug Administration for its Gamma Delta T therapy, named Vdelta2+ Gamma Delta T Cells, for the treatment of glioblastoma multiforme.Cosmos Health (COSM) shares jumped 15% after it said Friday that it has launched a subscription-based purchasing model for its consumer health brands.
