Health care stocks edged higher premarket Monday with the Health Care Select Sector SPDR Fund (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) advancing by 0.7% recently.
Tonix Pharmaceuticals Holding (TNXP) shares rose nearly 26% after the company said the US Food and Drug Administration will not require an advisory committee meeting regarding its new drug application for TNX-102 SL, a product candidate to treat fibromyalgia.
Genmab (GMAB) denied Saturday allegations of misappropriating trade secrets related to the use of disaccharides in antibody-drug conjugates in a lawsuit filed by AbbVie (ABBV). Genmab shares were down more than 4% pre-bell.
Novo Nordisk (NVO) shares declined more than 2% after the company said it has agreed to pay up to $2 billion for the exclusive rights for a triple receptor agonist in early-stage clinical development for the treatment of obesity, type 2 diabetes and other diseases.
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