Sector Update: Health Care Stocks Advance Premarket Friday

MT Newswires Live11-22 22:13

Health care stocks were advancing premarket Friday, with The Health Care Select Sector SPDR Fund (XLV) up 0.3% and the iShares Biotechnology ETF (IBB) 0.4% higher.

Halozyme Therapeutics (HALO) shares were up over 11% after the company said it has withdrawn its proposal to acquire Evotec (EVO) for 11 euro ($11.47) per share in cash. Evotec shares were down past 20% pre-bell.

Eyenovia (EYEN) shares were over 9% higher after the company said Avenue Capital Management has agreed to support a potential restructuring of Eyenovia's loan and security agreement, and defer principal and interest payments on its outstanding debt until the end of February 2025.

Amneal Pharmaceuticals (AMRX) shares advanced by over 4% after the company said US regulators have approved its exenatide formulation as an adjunct treatment to help control glucose levels in the bloodstream of adults with type 2 diabetes mellitus.

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