fbpx
Mon - Fri 10:00-18:00
info@rhodiuminvestments.co.za
Johannesburg, Fourways

Health Care Sector Update for 07/29/2020: HTBX, SNOA, SNSS, BA

Health care stocks were higher, with the NYSE Health Care Index rising 1.1% while the SPDR Health Care Select Sector ETF was up 1.0%.

The Nasdaq Biotechnology index was falling 0.8%.

Stocks moving on news include Heat Biologics (HTBX), rising 14% in recent trading, after the company said its COVID-19 vaccine candidate demonstrated in-vivo confirmation of vaccine immunogenicity in animal models, including an expansion of human-HLA-restricted T-cells against immunodominant epitopes of SARS-CoV-2 Spike protein. The pre-clinical trial also showed an increase in antibody-supporting CD4+ and virus killing CD8+ T-cells in the animals’ lungs, suggesting the vaccine antigen “may be appropriate for human testing,” the biopharmaceuticals company said.

Sonoma Pharmaceuticals (SNOA) surged 58% after late Tuesday the company said its Microcyn disinfectant and sanitizer technology has successfully passed compatibility testing for both Boeing (BA) and Airbus passenger jets. Together with the MicroSafe Group Dubai, Sonoma adapted its hypochlorous acid-based products to kill bacteria and viruses on internal and external aircraft parts within 30 seconds, opening a new market for the sanitizer after receiving the Boeing Standard BSS7434 and British Aerospace Airbus AIMS09-00-002 specifications.

To the downside, Sunesis Pharmaceuticals (SNSS) was down 30.5% after the company priced a $12 million public offering of nearly 52.2 million common shares at 26 cents each, representing a 34% discount to Tuesday’s closing price. The company expects to use the net proceeds to fund development of its SNS-510 targeted PDK1 inhibitor to treat various types of hematologic and solid cancers.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Leave a Reply

Select your currency
ZAR South African rand