Sector Update: Health Care Stocks Rise Late Afternoon

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Sector Update: Health Care Stocks Rise Late Afternoon

, MT Newswires - 3:56 PM ET 3/24/2025 default

03:56 PM EDT, 03/24/2025 (MT Newswires) -- Health care stocks climbed late Monday afternoon with the NYSE Health Care Index up 0.5% and the Health Care Select Sector SPDR Fund (XLV) rising 0.8%.

The iShares Biotechnology ETF (IBB) climbed 1.3%.

In corporate news, Unity Biotechnology ( UBX ) shares fell 28%. The company's UBX1325, the diabetic macular edema treatment for patients with poor vision, didn't achieve statistical non-inferiority at the primary analysis endpoint in a phase 2b trial.

TransCode Therapeutics ( RNAZ ) shares dropped 38%. The company agreed to sell shares to raise $10 million.

23andMe (ME) filed for Chapter 11 bankruptcy protection to help facilitate a potential sale, while Anne Wojcicki resigned as chief executive officer, less than a month after she attempted to buy the genetic testing firm. 23andMe shares tumbled 59%.

Novo Nordisk ( NVO ) secured exclusive global rights to United Laboratories International's therapeutic candidate for obesity and type 2 diabetes in a licensing deal worth up to $2 billion. Novo shares shed 2%.

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