Health care stocks edged higher late Tuesday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both up 0.1%.
The iShares Biotechnology ETF (IBB) eased 0.1%.
In corporate news, Cosciens Biopharma (CSCI) shares plunged 32% after the company said top-line results from a phase 3 trial assessing macimorelin to diagnose Childhood Onset Growth Hormone Deficiency showed the study didn't meet its primary efficacy endpoint.
Trinity Biotech (TRIB) shares jumped 22%, a day after the company received substantial additional orders for TrinScreen HIV, leading to an increase in its 2024 sales revenue outlook for the product to $10 million from $8 million.
Insulet (PODD) shares jumped 6.3% after the company said the US Food and Drug Administration approved its Omnipod 5 automated insulin delivery system for adults with type 2 diabetes.
Eli Lilly (LLY) launched a new, cheaper version of its weight-loss drug Zepbound to expand the product's access and meet high demand. The shares added 0.2%.
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