Sector Update: Health Care Stocks Rise in Monday Afternoon Trading

MT Newswires Live02:45

Health care stocks were higher Monday afternoon, with the NYSE Health Care Index rising 0.6% and the Health Care Select Sector SPDR Fund (XLV) adding 0.8%.

The iShares Biotechnology ETF (IBB) climbed 1.7%.

In corporate news, BridgeBio Pharma (BBIO) shares surged 18%. The firm said late Friday the US Food and Drug Administration approved Attruby for the treatment of the cardiomyopathy of wild-type or variant transthyretin-mediated amyloidosis in adults to reduce cardiovascular death and cardiovascular-related hospitalization.

Intellia Therapeutics (NTLA) shares popped 4% after the company said Monday that the US Food and Drug Administration has granted regenerative medicine advanced therapy designation to nexiguran ziclumeran for the treatment of hereditary transthyretin amyloidosis with polyneuropathy.

Cassava Sciences (SAVA) shares plunged past 82% after the company said its late-stage trial of simufilam in mild-to-moderate Alzheimer's disease didn't meet the co-primary endpoints of cognitive and functional improvement.

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