Sector Update: Health Care Stocks Mixed Premarket Monday
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Health care stocks showed mixed performance in premarket trading on Monday. The State Street Health Care Select Sector SPDR ETF (XLV) was slightly down, while the iShares Biotechnology ETF (IBB) rose by 0.2%. Praxis Precision Medicines (PRAX) surged over 14% after receiving Breakthrough Therapy Designation from the FDA for ulixacaltamide. Conversely, Genmab (GMAB) fell more than 2% as it halted development of acasunlimab. Novo Nordisk (NVO) saw a decline of over 1% after cutting the prices of its obesity drug Wegovy in some Chinese provinces.
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