Health care stocks were declining Monday afternoon, with the NYSE Health Care Index down 0.9% and the Health Care Select Sector SPDR Fund (XLV) falling 1.1%.
The iShares Biotechnology ETF (IBB) dropped 1.1%.
In corporate news, Marinus Pharmaceuticals (MRNS) shares surged 43% after the company said it signed a deal under which Immedica Pharma will buy all of its issued and outstanding stock for $0.55 a share.
Emergent BioSolutions (EBS) shares jumped nearly 13% after HC Wainwright started coverage of the stock with a buy rating and $15 price target.
Traws Pharma (TRAW) shares tumbled over 39% after the company said it entered agreements to raise up to $72.6 million via an equity offering.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.