Health care stocks rose Wednesday afternoon, with the NYSE Health Care Index adding 1.4% and the Health Care Select Sector SPDR Fund (XLV) advancing 1.3%.
The iShares Biotechnology ETF (IBB) climbed 2.1%.
In corporate news, ReShape Lifesciences' (RSLS) merger with Vyome Therapeutics received Nasdaq approval for listing upon completion of the deal, expected to take effect at the market open on Friday under the HIND ticker, Vyome said Wednesday. ReShape shares surged 54%.
Scilex (SCLX) shares rose over 18% after it said a registration statement related to the planned merger of its Semnur Pharmaceuticals subsidiary and special purpose acquisition company Denali Capital Acquisition was declared effective by the US Securities and Exchange Commission.
Cardinal Health (CAH) plans to sell bonds in the US investment-grade primary market Wednesday to help finance its $1.9 billion acquisition of Solaris Health, Bloomberg reported. Cardinal shares edged 0.6% higher.
Vor Biopharma (VOR) shares gained 20% after the company said its collaborator RemeGen achieved the primary endpoint in a phase 3 trial in China evaluating telitacicept in adults with primary Sjogren's disease.
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