From Nasdaq: 2024-03-28 15:59:42

Health care stocks saw a modest increase late Thursday, with the NYSE Health Care Index and Health Care Select Sector SPDR Fund both up in the afternoon. The iShares Biotechnology ETF, however, experienced a slight decrease of 0.3%. Kodiak Sciences shares dropped by 28% after reporting a wider-than-expected Q4 loss.

Avalo Therapeutics shares surged by an impressive 376% following the company’s announcement of acquiring AlmataBio. They also disclosed entering a definitive agreement for a private placement, aiming to raise up to $185 million. Walgreens Boots Alliance adjusted its full-year earnings outlook lower but reported strong fiscal Q2 revenue, leading to a 3.4% share increase. Eli Lilly’s weight loss drug Zepbound is currently facing a shortage in the US, affecting retailers like Rite Aid and Amazon Pharmacy. Despite this, Eli Lilly shares saw a slight increase of 0.1%.



Read more at Nasdaq: Health Care Sector Update for 03/28/2024: KOD, AVTX, WBA, LLY, AMZN