News
The day at a glance · 3 min read
Mood · Mixed
+15
Sentiment, −100 to +100
State Street Health Care SPDR assets
$50.93B
FDA & Regulation
JNJ position increase
$284.5M
FDA & Regulation
Moderna Q3 net income
$162M
Big Pharma & Biotech
Key driverFDA approval for Johnson & Johnson's Rybrevant FASPRO in head and neck cancer and Eli Lilly's expanded access agreement offset weakness in biotech and medtech shares
Daily briefHealthcare· Money365.Market AI ·

J&J Wins Cancer Approval; Lilly Partners with Hims

FDA clears Rybrevant for head and neck cancer as Moderna posts Q3 profit; Bristol Myers expands AI neuroscience push

FDA & Regulation

Bullish
01JNJ
Johnson & Johnson (JNJ) received accelerated FDA approval for Rybrevant FASPRO (amivantamab and hyaluronidase-lpuj) as a single-agent treatment for adults with recurrent or metastatic head and neck squamous cell carcinoma whose disease has progressed on or after platinum-based chemotherapy and an anti-PD-(L)1 antibody. The approval marks the first and only dual-targeted therapy for advanced head and neck cancer, delivered via subcutaneous injection at 160 mg/2,000 units per mL. The indication does not include patients with certain disease characteristics. The State Street Health Care SPDR fund added $284.5 million of stock, lifting all 60 positions on November 4.

Big Pharma & Biotech

Bullish

Moderna Q3 revenue

$1.3B
01LLY
Eli Lilly (LLY) and Hims & Hers Health (HIMS) announced an agreement to expand access to Zepbound (tirzepatide) and Foundayo (orforglipron). Through the agreement, eligible patients who receive a prescription from a licensed provider on the Hims & Hers platform will access the same self-pay prices available to any patient without leaving the Hims & Hers platform. Wall Street is watching a trio of drug launches highlighted in quarterly earnings this week, according to BioPharma Dive's visualization-focused series.
02MRNA▼ -6.55%
Moderna (MRNA) reported third-quarter profit of $162 million, or 38 cents per share, on revenue of $1.3 billion. The Cambridge, Massachusetts-based company's results contributed to a 31.5% NAV total return for Scottish Mortgage Investment Trust in the six months to September 30, driven in part by Moderna trial success. Invesco S&P 500 Equal Weight fund bought $585.6 million more than it sold, adding Moderna as a position on November 4.
03BMY
Bristol Myers Squibb (BMY) entered a multi-year collaboration with Pathos AI and Tempus AI focused on neuroscience. The alliance aims to build an AI-driven dataset and analytical toolkit targeting Alzheimer's disease and other neurological conditions. Partners plan to integrate large-scale patient information with AI-powered hypothesis testing to support precision medicine and trial design.

MedTech & Devices

Bullish

Halozyme Q3 revenue

$493M+39%

Halozyme Q3 2025 revenue

$354.3M
01HALO
Halozyme Therapeutics (HALO) posted 39% revenue growth with record royalties, lifted its full-year 2026 outlook, and secured a Dutch patent victory against Merck (MRK) even as US litigation continues. Total revenue rose 39% to $493 million from $354.3 million year-over-year, driven by growth in established partner products and contributions from newer subcutaneous drug launches. The company raised its full-year 2026 guidance following the third-quarter performance.

Healthcare Market Overview

Neutral

Amgen ETF net purchases

$79.8M

UnitedHealth ETF purchases

$56.4M

DIA total assets

$45.93B
01AMGN▼ -3.80%
ETFs bought a net $79.8 million of Amgen (AMGN) stock across 57 funds on Wednesday, while UnitedHealth (UNH) attracted $56.4 million of ETF purchases on November 4. The Dow Jones Industrial Average ETF added $932.2 million across all 30 of its positions, with no sales, on a day it held $45.93 billion in assets. Diamond Hill Large Cap Fund returned 3.18% compared to a 2.61% return for the Russell 1000 Value Index in the third quarter.

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