PRLD - Xenon Pharma ChemoCentryx lead weekly healthcare gainers; Prelude Allogene trail

While the S&P 500 index eked out a ~0.8% gain over the week, its healthcare constituents slipped ~0.3% to record the fifth consecutive weekly loss. Dragged down by biotech stocks, the sector became the second-worst performer in the index. Among healthcare stocks with more than $300M market capitalization and over 100K average daily volume over the past five sessions, Xenon Pharmaceuticals (NASDAQ:XENE) led the gainers after reporting positive results from a mid-stage trial for its focal epilepsy candidate. The Phase 2b X-TOLE study for XEN1101 met the primary endpoint indicating statistically significant and dose-dependent decline in monthly focal seizure frequency compared to the placebo, Xenon (XENE) said, sparking ~110.6% gain over the week. ChemoCentryx (NASDAQ:CCXI) closely followed, leading a late rally to close ~109.0% higher for the week on FDA approval of its ANCA vasculitis candidate TAVNEOS (avacopan), which, according to Piper Sandler, came as a “positive surprise.” Ahead of the FDA decision, Seeking Alpha contributor Edmund Ingham predicted less

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Xenon Pharma, ChemoCentryx lead weekly healthcare gainers; Prelude, Allogene trail