Healthcare stocks were back on the rise ahead of yesterday’s US midterm elections, leading to new 52-week highs seen in several sector stocks. In early trading Wednesday, US stock futures pointed towards a positive open, as the democrats took control of the House while Republicans maintained control of the Senate, which was in line with most expectations.
Healthcare Stocks That Hit Fresh Highs on November 6th:
- Allakos Inc (ALLK)
- Allogene Therapeutics Inc (ALLO)
- Equillium Inc (EQ)
- Gritstone Oncology Inc (GRTS)
- Vericel Corp (VCEL)
During Wednesday’s premarket trading, the Health Care SPDR (XLV) gained 0.9% while the Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.8%. As the healthcare sector comes back into focus following the elections, here are a few healthcare stocks to add to your watch-list.
Premier Health Group, Inc. (PHGRF)(PHGI.CN) focuses on developing innovative health care approaches that combine human skill-based expertise with emerging technologies. This week the company annouced that as a part of its expansion plans it will enter the Pharmacy market via acquisition and/or launching a new Canada based pharmacy in H1-2019. The company is actively reviewing a pipeline of additional pharmacy partners, which include bricks and mortar locations for acquisition and strategic new retail opportunities for pharmacies. With Premier’s acquisition of HealthVue Medical Clinics in August, this could be the next phase of growth for the company.
Premier Health Group, Inc. (PHGRF )(PHGI.CN) entered the primary care clinic and healthcare technology business via the HealthVue transaction and obtained access to a group of four Greater Vancouver-based fully integrated, paperless and electronic-medical-record-based medical clinics with a 10-year history, 22 healthcare professionals and over 100,000 active patients.
“Pharmacy is a critical component in our commitment to providing patients with best in class primary care that is accessible and efficient in its delivery. Having the ability to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients with ease, and having it as a part of our comprehensive technology solution for primary care, is something we are very excited to roll-out to patients,” said Dr. Essam Hamza, CEO of Premier.
Daxor Corporation (DXR) is an investment company with innovative medical instrumentation and biotechnology operations and the manufacturer of the BVA-100 Blood Volume Analyzer, the first instrument approved by the FDA to provide rapid direct measurement of a patient’s blood volume. The company today announced that the U.S. Army has selected it for a contract award to develop a blood volume analyzer for improving combat casualty care.
The selection was made under the Defense Department’s Small Business Innovative Research (SBIR) program. The contract award will be to develop and demonstrate a prototype blood volume analyzer suitable for military use leveraging Daxor’s technology and experience.
“This is an exciting additional opportunity to push our research and development program forward,” says Jonathan Feldschuh, Chief Scientific Officer. “We are focused on making volume measurement easier and quicker to perform, whether in a hospital lab, on the battlefield, or at the patient bedside.”
Foamix Pharmaceuticals Ltd. (FOMX) is a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary topical dermatology therapies. Today, the company announced the topline results from its Phase 3 program evaluating FMX103 1.5% minocycline foam, in the treatment of moderate-to-severe papulopustular rosacea.
Studies FX2016-11 and FX2016-12 met both co-primary endpoints of (1) absolute change from baseline in inflammatory lesion count at Week 12, and (2) Investigator Global Assessment (“IGA”) treatment success at Week 12, defined as an IGA score of 0 or 1, and at least a 2-grade improvement (decrease) from baseline. The safety profile of FMX103 was found to be favorable. Data from study FX2016-13 evaluating the long-term safety of FMX103 are expected to be reported in the first half of 2019.
“This is the second positive Phase 3 outcome for a Foamix product in the past two months, as we also achieved success in our third, confirmatory Phase 3 trial of FMX101 4% minocycline foam for the treatment of moderate-to-severe acne,” continued Mr. Domzalski. “The success of these Phase 3 trials provides further validation for our foam platform and represents the maturing of Foamix’s clinical pipeline.”
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