Sector Update: Health Care Stocks Lower Monday Afternoon

MT Newswires Live

2024/12/31

Health care stocks were declining Monday afternoon, with the NYSE Health Care Index down 0.9% and the Health Care Select Sector SPDR Fund (XLV) falling 1.1%.

The iShares Biotechnology ETF (IBB) dropped 1.1%.

In corporate news, Marinus Pharmaceuticals (MRNS) shares surged 43% after the company said it signed a deal under which Immedica Pharma will buy all of its issued and outstanding stock for $0.55 a share.

Emergent BioSolutions (EBS) shares jumped nearly 13% after HC Wainwright started coverage of the stock with a buy rating and $15 price target.

Traws Pharma (TRAW) shares tumbled over 39% after the company said it entered agreements to raise up to $72.6 million via an equity offering.

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