Health care stocks declined Thursday afternoon, with the NYSE Health Care Index down 0.7% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.6%.
The iShares Biotechnology ETF (IBB) was fractionally lower.
In corporate news, Ginkgo Bioworks (DNA) shares were falling past 7%. The company said Wednesday that Chief Financial Officer Mark Dmytruk will resign on May 30 to accept another opportunity.
Renovaro (RENB) said Thursday it has received a court ruling to expedite a trial this year related to its lawsuit against Predictive Oncology (POAI), seeking to enforce a contested merger agreement between the two biotech firms. Renovaro shares gained over 13%, while Predictive Oncology fell past 7%.
HOOKIPA Pharma (HOOK) shares jumped 13% after it said Thursday it struck a deal to sell its key assets from its HB-400 program for hepatitis B virus and HB-500 program for human immunodeficiency virus program to Gilead Sciences (GILD) for up to $10 million. Gilead shares were down nearly 1%.
Sanofi (SNY) has agreed to buy Vigil Neuroscience (VIGL) in a cash deal with an equity value of up to $600 million. Vigil shares soared 242% and Sanofi was down 0.6%.
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