Today in Health: COVID-19 Vaccine Trials Halt, Health Care Goes Digital and A Popular Eye Medication Gets A Rebrand
Happy Tuesday Rippers fam! You might have noticed no post yesterday — we’re moving Rippers to Sundays, Tuesdays, and Thursdays to allow for more flexibility in sharing stories that are making stocks move through the week.
Our first Tuesday list has all eyes on health and biotech. Let’s dive in and see what’s moving ⬇️
🔬 Pharma giants Johnson & Johnson and Eli Lilly have both paused their coronavirus vaccine trials in the last 24 hours because of an “unexplained illness.” These two holds come after INOVIO and AstraZeneca announced clinical holds earlier in the year. These two companies later resumed their trials after clearing the illness. It’s not unusual for a pharmaceutical company to briefly stop a trial because of an unexplained illness or adverse effect. However, the haste with which these companies are pursuing a vaccine for the COVID-19 has become a cause for concern among some researchers and scientists. $JNJ fell 2% and $LLY fell 3% today. The temperamental dip in these companies might represent an opportunity to jump in.
🔬Health care service firm Accolade also made our list today, jumping nearly 8%. Accolade provides a digital platform for businesses looking to provide personalized benefits and coverage for their employees. Since going public in July, the company’s digital-first emphasis has captured a lot of attention. Public markets have welcomed a number of tele-health companies this year, fueled in part by the COVID crisis. In 2019, the company’s revenue increased 40%, moving them closer to reporting a profit in 2020. $ACCD is up 48% since IPO.
👁 There are an estimated 16 million Americans who have Dry Eye Syndrome (DES). The current DES standard of care is the prescription eye-drop RESTASIS. It’s been on the markets for years and is more prevalent since going generic. Ocular Therapeutix, a producer of a variety of eye-centric therapeutics, hopes they might offer relief to millions of Americans through a sustained-release insert for RESTASIS. $OCUL is surging 10% after announcing they have begun dosing in their new treatment.
That wraps today’s Rippers! Check back on Thursday to see more about the stocks making moves. 📈📈📈