Health care stocks were flat to lower pre-bell Thursday as the iShares Biotechnology ETF (IBB) was inactive and the Health Care Select Sector SPDR Fund (XLV) was down 0.5% recently.
Elevance Health (ELV) shares fell past 13% after the company reported Q3 adjusted earnings of $8.37 per diluted share, down from $8.99 a year earlier. The company also lowered its 2024 adjusted EPS outlook.
Capricor Therapeutics (CAPR) shares declined by 6% after the company priced an underwritten offering of about 4.4 million shares at $17 per share for expected gross proceeds of about $75 million.
Travere Therapeutics (TVTX) shares were over 2% higher after the company said Swissmedic offered a temporary marketing approval for Filspari to treat adults with primary IgA nephropathy with a urine protein excretion of at least 1 gram per day.
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