Health care stocks were falling pre-bell Friday as the Health Care Select Sector SPDR Fund (XLV) was down 0.4% and the iShares Biotechnology ETF (IBB) was 1.4% lower recently.
Sanofi (SNY) and Regeneron Pharmaceuticals (REGN) said one of the phase 3 trials of itepekimab in adults who were former smokers with inadequately controlled chronic obstructive pulmonary disease, or COPD, met its primary endpoint while another did not meet the same primary endpoint. Shares of Sanofi were down more than 4% while Regeneron shares were more than 13% lower premarket.
Cooper (COO) shares were down more than 8% even after the company reported higher fiscal Q2 non-GAAP earnings and net sales.
Beam Therapeutics (BEAM) shares were advancing by more than 3% after the company said the US Food and Drug Administration granted orphan drug designation to BEAM-302.
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