ADGI - Atea Pharma Evolent among weekly healthcare gainers; Omeros Novavax trail

While the S&P 500 index dropped ~2.2% over the week, its healthcare constituents fell ~3.5%, posting the fourth consecutive weekly loss, as the sector — dragged down by life sciences and services — became the worst performer. Headlining the week was Merck (NYSE:MRK) with interim data for its experimental oral COVID-19 therapy, molnupiravir co-developed with Ridgeback Biotherapeutics. In a Phase 3 trial involving patients with mild-to-moderate COVID-19, the pill was found to have cut the risk of hospitalization or death by 50%. The landmark win, considered a new chapter in the battle against the virus, sent shockwaves across vaccine developers and manufacturers of intravenous treatments for the disease. Meanwhile, the developers of oral COVID-19 therapies surged in solidarity. Among healthcare stocks with more than $300M market capitalization and over 100K average daily volume over the past five sessions, Atea Pharmaceuticals (NASDAQ:AVIR) led the gainers to join the Merck-driven rally with a ~30.7% rise. Atea (AVIR)

For further details see:

Atea Pharma, Evolent among weekly healthcare gainers; Omeros, Novavax trail