Sector Update: Health Care Stocks Higher Pre-Bell Monday

09:18 AM EDT, 08/26/2024 (MT Newswires) -- Health care stocks were higher pre-bell Monday, with the Health Care Select Sector SPDR Fund (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) was ahead 0.6%.

BeiGene (BGNE) shares were up more than 3% after the drug maker said its BGB-16673 has received fast-track designation from the Food and Drug Administration for the potential treatment of relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma.

Guardant Health (GH) shares were down by more than 5% after saying it has agreed to an open market sale of common shares for up to $400 million with Jefferies as the sales agent.

MIRA Pharmaceuticals (MIRA) shares rose past 37% after reporting that a pre-clinical study in rats showed that its ketamine analog, Ketamir-2, resulted in a 100% normalization of pain thresholds at the highest dose.