Sector Update: Health Care Stocks Rise Late Afternoon

MT Newswires Live08-14

Health care stocks were advancing late Tuesday afternoon, with the NYSE Health Care Index rising 1.3% and the Health Care Select Sector SPDR Fund (XLV) adding 1.1%.

The iShares Biotechnology ETF (IBB) gained 1.3%.

In corporate news, Ocuphire Pharma (OCUP) shares tumbled nearly 21% after it posted a wider quarterly loss and lower revenue.

Syros Pharmaceuticals (SYRS) shares plunged 60%. The company said late Monday that it plans to stop enrolling new patients in its phase 2 trial of a treatment candidate for acute myeloid leukemia.

Baxter International (BAX) shares dropped 6.4% after the company said Tuesday it has agreed to sell its kidney care segment to Carlyle (CG) for $3.8 billion.

Elanco Animal Health (ELAN) shares jumped 7% after Chief Executive Jeffrey Simmons disclosed a recent stock purchase.

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