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Sector Update: Healthcare Stocks Higher in Wednesday Trading

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

Moderna (MRNA) shares surged more than 92%, and Merck (MRK) was up 8% after the companies said that 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.

Ideaya Biosciences (IDYA) stock was 1.3% higher after the company said it has entered into a clinical collaboration with Genentech to evaluate a combination therapy for pancreatic cancer.

Sight Sciences (SGHT) shares rose over 3% after the company said that the US Food and Drug Administration has updated the TearCare System's indication to include improving meibomian gland function in adult patients with evaporative dry eye disease caused by meibomian gland dysfunction.

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