Health care stocks were moderately higher this afternoon, with the NYSE Health Care Index rising 0.5% while the SPDR Health Care Select Sector ETF was up 0.3%.
The Nasdaq Biotechnology index was falling 1.6% this afternoon.
In company news, Lexicon Pharmaceuticals (LXRX) still was 1% higher, giving back much of an early 38% advance after the company reported positive topline data from phase III testing of its sotagliflozin drug candidate, with the prospective treatment for type 2 diabetes matching its primary endpoint in all four late-stage trials.
Immuron (IMRN) soared 63% this afternoon, backing down from a 105% gain earlier Tuesday, after the Australian immunotherapy company said its IMM-124E product candidate showed neutralizing activity against the SARS-CoV-2 coronavirus that causes COVID-19. The company Tuesday also began a $20 million direct offering of around 1.1 million of its American depositary shares priced at $18.75 each, or about 80.1% above Monday’s closing price.
Midatech Pharma (MTP) more than tripled in price on Tuesday after the firm said it plans to collaborate with a European affiliate of a global pharmaceuticals company to use its Q-Sphera drug-discovery platform to develop new assets for the drugmaker.
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