Health care stocks were steady pre-bell Tuesday as the Health Care Select Sector SPDR Fund (XLV) was down a slight 0.1% and the iShares Biotechnology ETF (IBB) was recently inactive.
Pfizer (PFE) shares were up over 3% after the company reiterated its 2024 guidance and issued financial projections for 2025. The company said it continues to expect 2024 adjusted earnings of $2.75 to $2.95 per diluted share on revenue of $61 billion to $64 billion.
Portage Biotech (PRTG) shares surged past 183% after the company said it signed a letter of intent to negotiate a definitive option agreement for Immunova's acquisition of Portage's iOx Therapeutics subsidiary.
Quanterix (QTRX) shares were down more than 2% after the company said it plans to acquire Emission, which manufactures dye-encapsulating magnetic beads designed for low and mid-plex assays, for $10 million in cash.
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