Financial Wire

Sector Update: Health Care Stocks Higher Friday Afternoon

-- Health care stocks climbed Friday afternoon, with the NYSE Health Care Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.

The iShares Biotechnology ETF (IBB) advanced 1.4%.

In corporate news, Merck (MRK) shares rose 2.3% after it said Friday that the European Commission has approved Enflonsia to prevent respiratory tract disease in newborns and infants.

Kura Oncology (KURA) shares jumped nearly 7% after it said Friday that new preliminary data from a subset analysis of patients with clear cell renal cell carcinoma previously treated with cabozantinib showed "robust" antitumor activity in an ongoing clinical trial of darlifarnib in combination with cabozantinib.

Psyence Biomedical (PBM) shares surged 66% after it acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions. Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.

Related Articles

Asia

Market Chatter: Hybe Shares Slip 3% as Police Seek to Arrest Founder over 2020 IPO Probe

Shares of Hybe (KRX:352820) fell nearly 3% to 2,48,000 won in Tuesday morning trade after the Seoul Metropolitan Police Agency sought to arrest the entertainment giant's founder Bang Si-hyuk on charges of misleading early investors before the company's initial public offering in 2020.Bang has also been accused of concealing profit-sharing arrangements tied to a private equity fund, Bloomberg reported Tuesday.Authorities suspect Bang made about 190 billion won in illicit gains. Bang denies any wrongdoing, according to the report.The probe, referred to by the Financial Services Commission last year, has raised concerns related to governance, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$KRX:352820
Asia

Eswin Materials Tech's 2025 Loss Widens; Shares Down 4%

Xi'an Eswin Materials Technology's (SHA:688783) net loss attributable to shareholders in 2025 slightly widened year on year to 738.2 million yuan, or 0.21 yuan per share, according to the company's annual report published Tuesday on the Shanghai bourse.The attributable loss a year earlier was 737.6 million yuan, while earnings per share were unchanged from 0.21 yuan a year earlier.Operating revenue climbed 25% to 2.65 billion yuan from 2.12 billion yuan in the previous year.The Chinese semiconductor company's shares dropped 4% during the morning trade.

$SHA:688783
Asia

ISOTeam Secures Contract Worth SG$30 Million; Shares Up 4%

ISOTeam (SGX:5WF) secured SG$30 million worth of contracts, according to a Monday filing with the Singapore Exchange.Shares of the facilities maintenance company were up nearly 4% in Tuesday trading.The contracts include a SG$8.3 million coating and painting projects contract, addition and alteration projects worth SG$6.8 million, repair and redecoration contracts worth SG$5.1 million, electrical work projects worth SG$4.8 million and landscaping projects worth SG$1.4 million.Following the award, the company's current order book stands at around SG$186.5 million.

$SGX:5WF