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Sector Update: Healthcare

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Healthcare stocks were rising premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 1.6% and the iShares Biotechnology ETF (IBB) 3.2% higher.

Merck (MRK) and Moderna (MRNA) said a late-stage trial of intismeran autogene in combination with Keytruda met its primary endpoint of recurrence-free survival as well as a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma. Merck shares were up more than 7% and Moderna stock was rising past 94% pre-bell.

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