Sector Update: Healthcare Stocks Advance in Afternoon Trading
Healthcare stocks were higher Friday afternoon, with the NYSE Healthcare Index rising 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) gained 1.8%.In corporate news, Johnson & Johnson (JNJ) shares rose 1.3% after the firm said Friday Tecvayli plus daratumumab has been approved by the European Commission to treat adults with relapsed or refractory multiple myeloma.Arbutus Biopharma (ABUS) shares jumped past 7% after the firm said it plans to launch a tender offer to repurchase up to $230 million of its shares at between $5.00 and $5.75 per share.Gossamer Bio (GOSS) shares were up 0.8% after the firm said it has agreed to sell up to $250 million of securities in a structured private placement to new and existing institutional investors.Werewolf Therapeutics (HOWL) and Ambros Therapeutics said they have struck an all-stock merger agreement to create a late-stage biotech company. Werewolf shares surged 108%.
