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Sector Update: Healthcare Stocks Rise Late Afternoon

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Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.8%.

The iShares Biotechnology ETF (IBB) climbed 1.7%.

In corporate news, AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal worth about $10.9 billion, as the drugmaker looks to boost its immunology portfolio and accelerate its clinical presence in the respiratory segment. AbbVie shares jumped past 6%, and Apogee surged 46%.

Regenxbio (RGNX) shares jumped 18% after it said the US Food and Drug Administration has agreed on the next steps for a potential accelerated approval of Navsunli, its experimental gene therapy for Mucopolysaccharidosis II, following discussions related to its appeal of a complete response letter issued in February.

Jaguar Health (JAGX) shares climbed 16% after the firm said Monday its board has started a process to explore strategic alternatives to maximize shareholder value.

Vivos Therapeutics (VVOS) shares fell 14% after it said Monday it has extended its strategic financing agreement with Streeterville Capital through Aug. 31, giving it additional time to complete planned capital-raising efforts.

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Sectors

Sector Update: Financial Stocks Lower Late Afternoon

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