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Health Care Sector Update for 08/07/2020: ZSAN, BIIB, CHRS, VHT, IYH, IBB, XLV

Health care stocks were mixed during premarket trading Friday. The Vanguard Health Care ETF (VHT) and the iShares Dow Jones US Healthcare (IYH) were unchanged. The iShares NASDAQ Biotechnology Index (IBB) slipped 0.18%, while the Health Care SPDR (XLV) added 0.38%.

Zosano Pharma (ZSAN) rose nearly 13% during pre-bell trading. The company said it has signed an agreement with Eversana to commercialize and distribute Qtrypta if the migraine treatment is approved by the US Food and Drug Administration.

Biogen (BIIB) was also up by more than 12%. The US FDA has accepted and has granted a priority review of its biologics license application for aducanumab, a drug candidate being co-developed with Eisai Co. Ltd. for the treatment of Alzheimer’s disease.

Meanwhile, Coherus BioSciences (CHRS) gained more than 12% after reporting Q2 net income of $0.70 per share, up from $0.32 a year earlier and beating the Capital IQ analyst consensus of $0.27.

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

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