Health care stocks were rising, including a nearly 0.3% gain for the NYSE Health Care Index in recent trade while shares of health care companies in the S&P 500 also were up almost 0.4% as a group. The Nasdaq Biotechnology index was climbing 3%.
Among health care stocks moving on news:
(+) Blueprint Medicines Corp (BPMC) advanced 6% after the immunotherapy company Saturday presented updated trial data confirming its avapritinib drug candidate produced a 77% overall response rate in patients with advanced systemic mastocytosis. The data also showed durable clinical activity and responses continuing to deepen over time across advanced, smoldering and indolent forms of the rare genetic disease characterized by the accumlation of mast cells in internal organs and tissues.
In other sector news:
(+) Array BioPharma (ARRY) sped 57% higher to a best-ever $46.23 a share after agreeing to an $11.4 billion buyout offer from Pfizer (PFE), which will pay $48 per share in cash for the specialty drugmaker developing small-molecule medications for certain types of melanoma and other cancers.
(-) VBI Vaccines (VBIV) dropped 68% to a record low of $0.605 cents a share on Monday after saying two doses of its Sci-B-Vac vaccine candidate failed to meet a secondary endpoint of non-inferiority of the seroprotection rate in adult hepatitis B patients compared with three doses of Merck’s Engerix-B vaccine during phase III testing.
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