Health Care Sector Update for 03/12/2024: IONM, ACAD, LRMR, XLV, IBB

Health care stocks were gaining premarket Tuesday as the Health Care Select Sector SPDR Fund (XLV) was marginally advancing and the iShares Biotechnology ETF (IBB) was recently up by 0.2%.

Assure Holdings (IONM) was rallying past 60% after saying it signed an agreement to sell certain assets of its IONM business, including most of its health care facility contracts and clinical equipment, to MPOWERHealth for up to $4.5 million.

Acadia Pharmaceuticals (ACAD) was down more than 17% after saying pimavanserin failed to demonstrate significant improvement compared with placebo in a phase 3 study for the treatment of schizophrenia.

Larimar Therapeutics (LRMR) was up almost 2% after saying it dosed the first patient in its open-label extension study of 25 milligrams daily injection of nomlabofusp in patients with Friedreich's ataxia, a neurodegenerative movement disorder.

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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