Sector Update: Health Care Stocks Mixed Premarket Monday

MT Newswires Live

Jan 27, 2025

Health care stocks were mixed premarket Monday, with The Health Care Select Sector SPDR Fund (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.3% lower.

Akero Therapeutics (AKRO) shares were up over 110% after the company said a phase 2b study of its lead product candidate efruxifermin showed a "statistically significant" reversal of compensated cirrhosis caused by metabolic dysfunction-associated steatohepatitis, or MASH.

Allakos (ALLK) stock was down past 73% after the company said its phase 1 trial of AK006 in chronic spontaneous urticaria failed to demonstrate therapeutic efficacy and its development will be terminated immediately.

Innate Pharma (IPHA) shares were up over 7% after the company said it has dosed its first patient in a phase 1 study to investigate the safety and tolerability of IPH4502, an antibody-drug conjugate for the potential treatment of patients with advanced solid tumors known to express Nectin-4.

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