Health care stocks were flat to lower premarket Thursday with the iShares Biotechnology ETF (IBB) recently inactive and the Health Care Select Sector SPDR Fund (XLV) down 0.5% recently.

UnitedHealth Group (UNH) shares were down nearly 4% after the company reported a lower-than-expected Q4 revenue.

Incyte (INCY) and Syndax Pharmaceuticals (SNDX) said the US Food and Drug Administration has approved Niktimvo as a treatment for certain patients with chronic graft-versus-host disease who weigh at least 40 kg. Syndax Pharmaceuticals shares were 2% higher premarket.

Seres Therapeutics (MCRB) said it received a $50 million installment related to the sale of its VOWST business to Societe des Produits Nestle. Seres Therapeutics shares were down nearly 4% pre-bell.