Real-time Estimate Cboe BZX - 11:58 2022-12-02 am EST
3.500 USD -2.51%

Sector Update: Health Care Stocks Inching Higher Near Close

08/24/2022 | 04:04pm
(MT Newswires) -- Health care stocks were hanging on for small gains this afternoon, with the NYSE Health Care Index adding 0.3% and the SPDR Health Care Select Sector ETF (XLV) rising 0.2%.

The Nasdaq Biotechnology index also was climbing 1.4%.

In company news, Minerva Neurosciences (NERV) catapulted over 66% in regular trading after a regulatory filing overnight showed general partner Steven Cohen's Point72 Asset Management acquired 470,000 of its shares and now owns an 8.8% stake in the biopharmaceuticals company.

Scisparc (SPRC) rallied Wednesday, climbing over 19%, after the Israeli pharmaceuticals company said the psychedelic-based MEAI drug candidate developed with Canadian collaborator Clearmind Medicine produced a significant decrease in coccaine craving in rats compared to those in a non-treated control group during pre-clinical testing.

Glaukos (GKOS) gained 5.2% after Wednesday saying it secured an exclusive global license from iVeena Delivery Systems to develop and commercialize its IVMED-80 drug candidate to treat corneal disorders in exchange for a $10 million upfront payment as well as potential development and sales milestone payments.

BioCardia (BCDA) fell 0.5% this afternoon, reversing a nearly 7% gain, after the regenerative medicine company Wednesday said it would provide its biotherapeutic delivery product candidates to privately held BlueRock Therapeutics in exchange for an unspecified upfront payment. BioCardia also has the option to negotiate a nonexclusive global license combining its biotherapeutic delivery product candidates with BlueRock's engineered cell therapies in certain cardiac indications.

MT Newswires 2022
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