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Sector Update: Health Care Stocks Advance in Afternoon Trading
Health care stocks were rising Friday afternoon, with the NYSE Health Care Index adding 0.5% and the Health Care Select Sector SPDR Fund (XLV) up 0.4%. The iShares Biotechnology ETF (IBB) gained 0.4%.
ITeos, Arcus Shares Drop After Genentech's Lung Cancer Study Misses Endpoints
iTeos Therapeutics (ITOS) and Arcus Biosciences (RCUS) shares fell in early Friday trading after Roche Group's Genentech said its phase 2/3 non-small cell lung cancer study failed to meet its primary
Express News | Shares of Compugen Down 3%, Iteos Therapeutics Down 6.1%, and Arcus Biosciences Down 3.8%
Express News | Anti-Tigit Drugmakers Fall as Roche's Lung Cancer Drug Fails Trial
Roche's TIGIT therapy failed to achieve its main goal. Biotechnology stocks like Compugen (CGEN.US) suffered heavy losses before the market opened.
On Friday, following the failure of a similar drug being developed by Swiss pharmaceutical giant Roche in phase 2/3 clinical trials, the stock prices of some biotech companies developing a new type of anti-cancer drug (known as a new "anti-TIGIT therapy") have fallen significantly in pre-market trading. Roche's stock price also fell in the European stock market on Thursday. Earlier, the company stated that tiragolumab, its anti-TIGIT treatment drug as part of a frontline drug combination, was used in the SKYSCRAPER study for non-squamous non-small-cell lung cancer.
Roche's Setback in Lung Cancer Trial Sends Anti-TIGIT Developers Lower