Healthcare stocks rose this afternoon, with the NYSE Health Care Index up 1.1% and the SPDR Health Care Select Sector ETF (XLV) up 1.0%.
The Nasdaq Biotechnology index slipped 0.1%.
In company news, Addex Therapeutics (ADXN) rose more than 143% after it cut the par value of its issued and authorized shares by 99% to 0.01 Swiss francs in a move the biopharmaceutical company said. remove technical barriers for its stock and provide more flexibility for future funding efforts.
Quest Diagnostics (DGX) fell 1.5% after the medical testing company reported second-quarter financial results fell from year-ago levels, with non-GAAP net profit falling to 2 $.36 per share on $2.45 million in revenue from adjusted earnings of $3.18 per share in the June quarter of last year on revenue of $2.55 million. Analysts, on average, expected Quest to earn $2.26 a share on $2.34 billion in revenue in the second quarter.
Verve Therapeutics (VERV) fell more than 13% after the genetic drug company on Thursday offered a $225 million public offering of more than 8.3 million shares at $27 each, or 2.5% less than its last closing price. The company added an additional $25 million of its common stock to the deal compared to its original plans to sell $200 million of its stock.