Health care stocks were steady-to-lower pre-bell Monday as the Health Care Select Sector SPDR Fund (XLV) was flat and the iShares Biotechnology ETF (IBB) recently fell by 0.8%.
Novavax (NVAX) shares rose past 23% after the company said the US Food and Drug Administration has approved the Biologics License Application for its COVID-19 vaccine Nuvaxovid.
Intellia Therapeutics (NTLA) shares advanced by over 4% after the company said it received "positive" two-year follow-up data from an ongoing phase 1 trial of its investigational drug nexiguran ziclumeran for the potential treatment of hereditary transthyretin amyloidosis with polyneuropathy, a genetic disease associated with the liver.
Zai Lab (ZLAB) shares were up more than 2% after the company said the US Food and Drug Administration has granted fast-track designation to ZL-1310, the company's potential antibody-drug conjugate for the treatment of extensive-stage small cell lung cancer.
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