These 2 Soaring Biotech Stocks Are Making the Nasdaq Stronger

Wednesday was generally a down day in the stock market, with major indexes showing losses of as much as 1%. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) held up quite well, just barely falling below the unchanged mark as of noon EDT.

Most people think of tech stocks when they consider the Nasdaq. But today, it was the biotech industry that scored some big wins that helped the index outperform its peers. Below, we'll highlight BeyondSpring (NASDAQ: BYSI) and Novavax (NASDAQ: NVAX) and their contributions to give the overall Nasdaq a boost.

Shares of BeyondSpring skyrocketed almost 150% as of midday on Wednesday. The clinical-stage biotech company announced extremely encouraging results in a phase 3 trial that had investors excited about the future of a key pipeline candidate treatment.

Source Fool.com