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Home / Business / Dow Jones Futures: Zogenix Dives; GW Pharma, PhaseBio Pop at FDA News

Dow Jones Futures: Zogenix Dives; GW Pharma, PhaseBio Pop at FDA News



Dow Jones futures fell modest late Monday, along with S&P 500 futures and Nasdaq futures. Following the industry, the FDA rejected a Zogenix (ZGNX) drug for a rare form of epilepsy, good news for GW Pharma (GWPH). Meanwhile, the FDA has given breakthrough therapy status to a [PhaseBioPharmaceuticals (PHAS) compound. The FDA also had a Bio-Rad Laboratories (BIO) blood typing and screening system. The Zogenix file stalled after hours, while the GW Pharma share and PhaseBio share rallied. The Bio-Rad share was quiet overnight.




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Dow Jones Futures Today

Dow Jones futures fell 0.2% against fair value. S & P 500 futures pushed 0.15%. Nasdaq 100 futures was a fraction below fair value. Keep in mind that taking over in Dow futures and elsewhere may not necessarily translate into actual trading in the next ordinary stock market session.

Current Stock Market Collection

Dow Jones fell 0.3% on Monday, pulled down by Boeing (BA) even as Apple (AAPL) broke out. The Nasdaq composite rallied for a 0.2% gain and S & P 500 edged up 0.1%. All three main indices are about 2% from their all-time highs as today's rally is on the way of a long beef market.

Zogenix Stock Pained, GW Pharma Gains

The FDA's late Monday refused to undergo Zogenix's Fintepla for the treatment of Dravet, a rare form of epilepsy. The Zogenix share fell 31.5% in late trading. The Zogenix share had attempted to break out past a 55.10 cup-with-handling point of sale on March 29 and April 1, but never closed over the entrance.

At the same time, the GW Pharma share climbed 3.5% late. Stocks work at a 182.33 place of purchase from a short flat base after breaking out of a wild, very deep cup of handle due to earnings in late February.

GW Pharma sells Epidiolex, a cannabinoid-based drug to treat Dravet and other types of childhood epilepsy. The FDA approved it in June.

PhaseBio Stock Jumps

The FDA declared PhaseBio Pharmaceuticals PB2452 a breakthrough therapy, giving the compound a better path for approval. The PhaseBio compound is a reversing agent for AstraZeneca s (AZN) anti-coagulation drug, Brilinta.

The Phase Bio share increased 34% late. Stocks shot up 17% to 12.57 in Monday's stock market and hit a new closing price. The PhaseBio share was announced on 5 shares in October, dropped to 2.55 in November, but has been in a tear since March 12.

Bio-Rad Warehouse Near Purchase Point

FDA OK & # 39; a Bio-Rad Laboratory System for Blood Typing and Screening for Small to Mid-sized Laboratories. The Bio-Rad share did not trade late on Monday. Stocks rose 0.4% to 309.84. The Bio-Rad share is working at a 324.04 cup-with-shop place of purchase.

How to play biotechnology

Individual biotech shares are subject to sudden peaks of news. One way to minimize stock-specific risk is via ETFs. Among the best ETFs for biotechnology is the iShares Nasdaq Biotechnology ETF (IBB) near a point of purchase. SPDR S & P Biotech ETF (XBI) is just above a post.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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