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The futures on the Dow Jones fell slightly Monday night, as well as the futures on the index S & P 500 and Nasdaq. After closing, the FDA rejected a Zogenix (ZGNX) for a rare form of epilepsy, good news for GW Pharma (GWPH). Meanwhile, the FDA has granted disruptive therapy status to a PhaseBio Pharmaceuticals (PHAS) compound. The FDA has also accepted a Bio-Rad Laboratories (BIO) blood typing and screening system. Zogenix's shares plummeted after normal business hours, while shares of GW Pharma and PhaseBio rebounded. The Bio-Rad stock was calm during the night.
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Dow Jones Futures Today
Dow Jones futures contracts fell 0.2% from their fair value. The futures on the S & P 500 index dipped 0.2%. Nasdaq 100 futures were 0.1% lower than fair value. Do not forget that day-to-day futures trading on Dow and elsewhere do not necessarily translate into actual trading at the next regular trading session.
Current stock market rally
The Dow Jones fell 0.3% on Monday, pulled down by Boeing (BA), even as Apple (AAPL) broke out. The Nasdaq composite advanced 0.2% and the S & P 500 rose 0.1%. The top three indices are at around 2% of their all-time highs, as the current rally is at the dawn of a long bull market.
Zogenix Stock Pain, GW Pharma Earnings
The FDA declined Monday night to look into Zogenix's Fintepla for the treatment of Dravet, a rare form of epilepsy. Zogenix shares plunged 31.5% at the end of the session. Zogenix's shares had attempted to cross a point of purchase of 55.10 goblets on March 29 and April 1, but were never closed above the entrance.
At the same time, GW Pharma's stock rose 3.5% late. The stocks are working on a 182.33 point buy from a short, flat base, after a very deep wild goblet came out with a handful after the end-February earnings.
GW Pharma sells Epidiolex, a cannabinoid drug, to treat Dravet and other types of epilepsy in children. The FDA approved it last June.
PhaseBio Stock Jump
The FDA has stated that PhaseBio Pharmaceuticals' PB2452 treatment is a revolutionary therapy, giving the compound a better route of approval. PhaseBio compound is an inversion agent for AstraZenecaThe anticoagulant drug of (AZN), Brilinta.
PhaseBio shares jumped 34% late. Shares rose 17% to 12.57 on Monday on the stock market, reaching a new closing record. PhaseBio shares became public at one share in October, fell to 2.55 in November but have been in ruins since March 12th.
Stock Bio-Rad close to the point of sale
The FDA has approved a Bio-Rad laboratory system for blood typing and blood screening in small to medium sized laboratories. Bio-Rad's shares were not trading Monday night. Shares rose 0.4% to 309.84. The Bio-Rad stock is working on a point of purchase cup with handle 324.04.
How to play in the biotechnology sector
Individual biotech stocks are subject to sudden peaks in news. ETFs are a way of minimizing the risks associated with specific actions. As one of the best biotech ETFs, the iShares Nasdaq Biotechnology (IBB) ETF is located near a point of sale. The SPDR S & P Biotech ETF (XBI) is located just above an entrance.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock updates and more.
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