Sector Update: Health Care Stocks Lean Lower Pre-Bell Tuesday

09:13 AM EDT, 09/03/2024 (MT Newswires) -- Health care stocks were leaning lower pre-bell Tuesday with the Health Care Select Sector SPDR Fund (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) recently declining by 0.8%.

Vaxcyte (PCVX) shares rose past 31% after it announced plans to launch by mid-2025 a phase 3 study for VAX-31 following "positive" topline results from a phase 1/2 trial assessing the immunogenicity, safety, and tolerability of the 31-valent pneumococcal conjugate vaccine candidate.

Evotec (EVO) said Chief Business Officer Matthias Evers has decided to step down, effective Oct. 1, to pursue opportunities outside of the company. Evotec shares declined by over 5% premarket.

Arrowhead Pharmaceuticals (ARWR) said a phase 3 study of investigational plozasiran in patients with familial chylomicronemia syndrome met its primary endpoint and all multiplicity-controlled key secondary endpoints. Arrowhead Pharmaceuticals shares were 0.7% higher pre-bell.