ADGI - Cassava ABVC among weekly healthcare gainers; Pfizer shocks rivals with COVID-19 pill

The emerging dominance of COVID-19 pills and concerning outlook for vaccine makers dominated healthcare headlines this week amid a flurry of earnings reports. Yet, with an over twofold rise in value, a clinical-stage Alzheimer’s drug developer outshone them all. However, pressure on vaccine makers dragged down the healthcare sector, making it the worst-performing sector in the S&P 500 Index last week. After three consecutive weeks of gains, health stocks dropped ~0.7% as a whole, while the broader index climbed ~2.0%. Among stocks with more than $2B market capitalization and over 100K average daily volume over the past five sessions, Casava Sciences (NASDAQ:SAVA) dominated with a gain of ~110.8%. Its shares surged Thursday after the biotech highlighted the data integrity of a peer-reviewed article that was the basis of its experimental Alzheimer’s drug, simufilam. Despite a late selloff, iRhythm Technologies (NASDAQ:IRTC) climbed ~49.6% buoyed by favorable Final reimbursement rates published by the Centers for Medicare & Medicaid Services

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Cassava, ABVC among weekly healthcare gainers; Pfizer shocks rivals with COVID-19 pill