Sector Update: Health Care Stocks Rise Late Afternoon

MT Newswires Live

2024/07/25

Health care stocks were rising late Wednesday afternoon, with the NYSE Health Care Index adding 0.6% and the Health Care Select Sector SPDR Fund (XLV) up 0.9%.

The iShares Biotechnology ETF (IBB) advanced 0.4%.

In corporate news, Bausch Health (BHC) on Wednesday denied a Reorg report it's considering a bankruptcy or insolvency proceeding. Bausch Health shares were falling more than 23%.

Hoth Therapeutics (HOTH) shares jumped 15% after it said Wednesday it has signed a deal with LTS Therapy Systems to develop and make an oral film prototype.

Thermo Fisher Scientific (TMO) shares climbed 3.6%. The company increased its full-year earnings outlook on Wednesday as its Q2 results beat market expectations.

Pieris Pharmaceuticals (PIRS) shares soared 85%. The company and Palvella Therapeutics said Wednesday they have agreed to merge in an all-stock deal.

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