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Sector Update: Health Care Stocks Retreating on Thursday

MT Newswires ·  09/30 01:54

01:53 PM EDT, 09/29/2022 (MT Newswires) -- Health care stocks were mostly lower this afternoon, with the NYSE Health Care Index sinking 0.8% and the SPDR Health Care Select Sector ETF (XLV) down 0.9%.

The Nasdaq Biotechnology index also was sinking 1.9%.

In company news, Editas Medicine (EDIT) slid 8.8% after BofA Securities began coverage of the genome editing company with a neutral stock rating.

MorphoSys (MOR) has turned narrowly lower, giving back an early 2.4% gain, after late Wednesday announcing new data showing that a combination of its Monjuvi drug candidate and lenalidomide chemotherapy followed by Monjuvi alone provided long-term efficacy in patients with relapsed or refractory diffuse large B-cell lymphoma.

Windtree Therapeutics (WINT) gained almost 4% after late Wednesday saying its istaroxime drug candidate met its primary endpoint of significantly improving systolic blood pressure in patients experiencing cardiogenic shock due to heart failure compared with patients in the control group of the phase 2 study. The improved blood pressure persisted over 24 hours, the company said, adding that istaroxime also produced a substantial increase in the amount of blood pumped by the heart without increasing heart rate.

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