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Sector Update: Health Care Stocks Decline Premarket Tuesday
2024-08-27 21:14
09:14 AM EDT, 08/27/2024 (MT Newswires) -- Health care stocks were declining premarket Tuesday as the Health Care Select Sector SPDR Fund (XLV) was 0.1% lower and the iShares Biotechnology ETF (IBB) was down 0.2% recently.
Trinity Biotech (TRIB) shares were over 49% higher after the company said it received substantial additional orders for TrinScreen HIV, prompting it to raise its 2024 sales revenue outlook for the product to $10 million from $8 million.
Insulet (PODD) shares were up more than 2% after saying the US Food and Drug Administration has cleared its Omnipod 5 automated insulin delivery system for adults with type 2 diabetes.
Emergent BioSolutions (EBS) is cutting up to 70 jobs at its Lansing, Michigan facility as part of a restructuring project, Reuters reported, citing the company. Emergent BioSolutions shares were down over 2% pre-bell.
