Sector Update: Health Care Stocks Edge Up in Afternoon Trading

MT Newswires Live2024-12-27

Health care stocks edged higher Thursday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.1%.

The iShares Biotechnology ETF (IBB) rose 0.4%.

In corporate news, Hoth Therapeutics (HOTH) signed an exclusive patent license agreement with the US Department of Veterans Affairs to develop an obesity treatment. The shares fell 2%.

Johnson & Johnson (JNJ) signed an exclusive licensing deal for the global development, manufacturing and commercialization of Kaken Pharmaceutical's STAT6 program for atopic dermatitis and other autoimmune and allergic diseases. Johnson & Johnson shares shed 0.2%.

TScan Therapeutics (TCRX) shares rose 3.3% after the company signed a securities purchase agreement with Lynx1 Capital Management and an investment fund advised by Lynx1 for the sale of $30 million of prefunded warrants.

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