Health care stocks advanced late Tuesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each climbing 1.4%.
The iShares Biotechnology ETF (IBB) added 0.9%.
In corporate news, RedHill Biopharma (RDHL) shares rose 5.8% after it said Tuesday it has started patient recruitment for a phase 2 trial of opaganib in combination with darolutamide for the treatment of metastatic castrate-resistant prostate cancer.
AstraZeneca (AZN) Chief Executive Pascal Soriot has spoken privately on a number of occasions of his preference to move the company's stock market listing to the US, The Times reported Tuesday. AstraZeneca gained 2.2%.
IGM Biosciences (IGMS) shares jumped 15% after the firm said it has agreed to be acquired by Concentra Biosciences.
Sage Therapeutics (SAGE) is cutting 338 jobs, or the majority of its workforce, after the biotech company agreed to be acquired by Supernus Pharmaceuticals (SUPN), according to government filings in Massachusetts and media reports. Sage shares were down 0.2%, and Supernus added 0.9%.
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