Sector Update: Health Care Stocks Rise in Afternoon Trading

MT Newswires Live01-08 02:58

Health care stocks rose Tuesday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both up 0.7%.

The iShares Biotechnology ETF (IBB) climbed 1.2%.

In corporate news, Stryker (SYK) agreed to buy medical technology maker Inari Medical (NARI) for $4.9 billion in cash. Stryker shares fell 1.2%, and Inari jumped 22%.

Hoth Therapeutics (HOTH) shares more than tripled after interim results from a phase 2a trial of HT-001 showed that all patients met the primary efficacy endpoint.

Immuneering (IMRX) shares rose 5.1% after new data from a phase 2a trial of the company's lead candidate IMM-1-104 in pancreatic cancer showed better overall response and disease control rates.

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