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Sector Update: Health Care Stocks Decline Late Afternoon
2024-09-04 04:00
04:00 PM EDT, 09/03/2024 (MT Newswires) -- Health care stocks fell late Tuesday afternoon with the NYSE Health Care Index shedding 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.
The iShares Biotechnology ETF (IBB) dropped 1.8%.
In corporate news, TC BioPharm (TCBP) shares jumped 29% after the company said it dosed five new patients in a phase 2b trial assessing the efficacy and effectiveness of TCB008 in people with acute myeloid leukemia or myelodysplastic syndromes/acute myeloid leukemia.
Vaxcyte (PCVX) shares surged 36% after the company said it plans to start a phase 3 study for its Valent Pneumococcal Conjugate vaccine by mid-2025.
Dr. Reddy's Laboratories (RDY) said in a regulatory filing that China's National Medical Products Administration issued an order suspending the import, sale, and use of the company's atomoxetine hydrochloride capsules. The shares fell 2.9%.
Embecta (EMBC) shares rose 1% after the company got the US Food and Drug Administration's 510(k) clearance for a disposable patch pump for insulin delivery for the treatment of diabetes.
