Sector Update: Health Care Stocks Advance Premarket Thursday

MT Newswires Live07-11

Health care stocks were advancing premarket Thursday, with the Health Care Select Sector SPDR Fund (XLV) marginally higher and the iShares Biotechnology ETF (IBB) up 1.1% recently.

Pfizer (PFE) rose more than 2% after saying it will conduct dose optimization studies of danuglipron in the second half of the year after selecting a once-daily, modified-release formulation of the drug candidate, intended to maintain healthy blood sugar levels and address obesity.

Akebia Therapeutics (AKBA) was up more than 4% after saying it has regained full rights to commercialize Vafseo tablets in the US after agreeing to terminate a license agreement with CSL Vifor.

Cara Therapeutics (CARA) was more than 10% higher after saying it is exploring and reviewing strategic alternatives, sending shares up by more than 8% in pre-bell activity.

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