Health care stocks were mixed premarket Wednesday as the iShares Biotechnology ETF (IBB) was 0.2% lower and the Health Care Select Sector SPDR Fund (XLV) was up 0.1% recently.

Sagimet Biosciences (SGMT) shares were rising by more than 14% after the company said denifanstat met primary and secondary endpoints in a phase 3 clinical trial to treat moderate to severe acne vulgaris.

Merus (MRUS) shares were down more than 7% after the company priced an underwritten public offering of about 5.3 million common shares at $57 per share for expected gross proceeds of about $300 million.

AnaptysBio (ANAB) shares were up more than 3% after the company reported updated interim results from its ongoing phase 2b trial of rosnilimab in patients with moderate-to-severe rheumatoid arthritis, showing that most participants improved after three months of treatment, with many maintaining those gains for at least two months after stopping therapy.