Health care stocks rose pre-bell Thursday with the Health Care Select Sector SPDR Fund (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 1.2% higher recently.
Sanofi (SNY) shares advanced by over 3% after the company reported higher Q4 revenue. The company also said it intends to launch a 5 billion euro ($5.22 billion) share buyback program this year.
Cigna Group (CI) shares fell past 12% after the company reported a decline in Q4 adjusted earnings, which also missed market expectations.
Cargo Therapeutics (CRGX) shares tumbled by over 75% after the company said it will discontinue a phase 2 study of firicabtagene autoleucel, or firi-cel, for patients with large B-cell lymphoma, and reduce its workforce by about 50% to preserve cash for the development of other product candidates.
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