Health Care Sector Update for 05/30/2024: RCEL, INMB, XERS

Health care stocks were rising Thursday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding about 0.4%.

The iShares Biotechnology ETF (IBB) was up 0.5%.

In corporate news, Avita Medical (RCEL) shares jumped 10% after the US Food and Drug Administration approved its premarket approval supplement for its cell harvesting device, Recell Go, to treat thermal burn wounds and partial and full-thickness defects.

Xeris Biopharma (XERS) shares surged past 16% after the firm reported positive topline phase 2 data of its investigational XeriSol-formulated once-weekly subcutaneous levothyroxine for the treatment of adults with hypothyroidism.

INmune Bio (INMB) shares rose 1.4% after the company said it will join the broad-market Russell 3000 index July 1.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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