Health care stocks were rising, with the NYSE Health Care Index posting a 0.8% gain while the SPDR Health Care Select Sector ETF was up 1.1%.
The Nasdaq Biotechnology index also was climbing 1.0% Thursday afternoon.
In company news, Venus Concept (VERO) surged nearly 6% higher. The company late Wednesday announced 510(k) clearance for its Venus Viva MD new-skin rejuvenation device from the US Food and Drug Administration to treat a wider range of skin conditions than prior versions of its Viva and Versa devices that were introduced in 2015 and 2016.
MEI Pharma (MEIP) fell more than 19% after the drugmaker and the Helsinn Group said Thursday they were ending phase III testing of a combination of MEI’s pracinostat drug candidate and azacitidinin in patients with acute myeloid leukemia when an interim analysis showed that it was unlikely to improve overall survival compared with a control group.
Neoleukin Therapeutics (NLTX) dropped almost 16% after the biopharmaceuticals company Thursday priced a $76.2 million public offering of nearly 3.3 million common shares and more than 1.7 million pre-funded warrants at $15.25 apiece, or 10.3% below Wednesday’s closing price. Net proceeds will be used to continue development of Neoleukin’s NL-201 lead product candidate and other protein therapies as well as for working capital and other general corporate purposes.
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