Sector Update: Health Care Stocks Trade Lower Premarket Wednesday
09:20 AM EDT, 05/12/2021 (MT Newswires) -- Health care stocks were down in premarket Wednesday trading. The Health Care SPDR (XLV) was slipping 0.38% and iShares NASDAQ Biotechnology Index (IBB) was over 1% lower.
Inovio Pharmaceuticals (INO) was up about 3% after saying its COVID-19 vaccine candidate may have potential to induce immune responses against different variants of the SARS-CoV-2 virus, based on data from its preclinical study.
Sientra (SIEN) was about 8% higher after saying its Q1 non-GAAP net loss was $0.10 per share, compared with a loss of $0.31 per share a year ago. Analysts polled by Capital IQ had expected a loss of $0.27 per share. Separately, Sientra (SIEN) said it has agreed to sell its miraDry business to health care growth equity firm 1315 Capital.
Cellectis (CLLS) was up more than 1% after Sanofi (SNY) agreed to supply the alemtuzumab antibody for use in Cellectis' clinical trials.