Sector Update: Health Care Stocks Higher Late Afternoon

MT Newswires Live06-08

Health care stocks rose late Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding about 0.2%.

The iShares Biotechnology ETF (IBB) fell 0.5%.

In corporate news, Walgreens Boots Alliance (WBA) put plans for an initial public offering of Boots on hold while weighing ownership of the UK drugstore chain, Bloomberg reported. Walgreens shares were up 0.2%.

Biomea Fusion (BMEA) shares plunged 63% after it said the US Food and Drug Administration placed a full clinical hold on early trials of its investigational covalent menin inhibitor BMF-219 in type 2 and type 1 diabetes.

ChromaDex (CDXC) stock jumped almost 13% after it said Friday that the US Food & Drug Administration has granted orphan-drug designation and rare pediatric disease designation for NRC, its drug candidate to treat Ataxia Telangiectasia.

Asensus Surgical (ASXC) shares surged 41% after the company agreed to be acquired by Karl Storz Endoscopy-America, a unit of Karl Storz, for $0.35 per share in cash.

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