Sector Update: Health Care Stocks Softer Thursday Afternoon

MT Newswires Live

03-14

Health care stocks fell Thursday afternoon with the NYSE Health Care Index down 0.5% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.6%.

The iShares Biotechnology ETF (IBB) dropped 1.1%.

In sector news, Mallinckrodt and Endo are set to merge in a deal valued at $6.7 billion in cash and stock with the drug makers set to list shares of the new firm on the New York Stock Exchange.

In corporate news, Lifeward (LFWD) shares jumped 18%. The US Food and Drug Administration cleared ReWalk 7, the newest version of the company's personal exoskeleton device.

ImmunoPrecise Antibodies (IPA) shares rose 11% after the company announced a partnership with an undisclosed biotech firm to discover and develop antibody-drug conjugates and bispecific antibodies to treat cancer.

Dogwood Therapeutics (DWTX) shares tumbled 27% after the company launched a registered direct offering priced at $8.26 a share.

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