STVN - Praxis tops weekly healthcare gainers; Sesen Bio joins laggards for second consecutive week

Despite snapping a four-day rally on Wednesday, healthcare stocks in the S&P 500 gained for two consecutive sessions to end the week ~1.8% higher, outperforming the ~0.6% loss in the broader index. Among healthcare stocks with more than $300M market cap and over 100K average daily volume, Praxis Precision Medicines (NASDAQ:PRAX) gained the most with a ~35.9% rise over the five days. Early this week, disclosing the results for PRAX-114 from a Phase 2a proof-of-concept trial for perimenopausal depression, the clinical-stage biopharma company revealed its intention to expand the program to a Phase 2b study in women with menopausal and mood symptoms. Meanwhile, Travere Therapeutics (NASDAQ:TVTX) followed up with a ~30.7% gain driven by its success in sparsentan, which met the primary efficacy endpoint in a late-stage trial in IgA nephropathy (IgAN), a major cause for end-stage kidney disease. The submission of a marketing application in the U.S. is expected in H1 2022. Recently IPO’ed Stevanato Group S.p.A. (NYSE:STVN) added

For further details see:

Praxis tops weekly healthcare gainers; Sesen Bio joins laggards for second consecutive week