Sector Update: Health Care Stocks Rise Monday Afternoon

MT Newswires Live

03/04

Health care stocks were higher Monday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) adding 0.6%

The iShares Biotechnology ETF (IBB) fell 1.1%.

In corporate news, AbbVie (ABBV) said it struck a licensing deal with Danish biotechnology company, Gubra, to develop a potential candidate for obesity treatment. AbbVie shares rose 1%.

Pliant Therapeutics (PLRX) shares fell 52% after it said it has ended its Beacon-IPF phase 2b trial of bexotegrast in idiopathic pulmonary fibrosis after an independent review found an imbalance in IPF-related adverse events between treatment and placebo groups.

TG Therapeutics' (TGTX) shares jumped past 18% after it reported Q4 net income of $0.15 per diluted share, swinging from a loss of $0.10 a year earlier.

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