Sector Update: Health Care Stocks Edge Higher in Premarket Thursday

Last Updated: Thursday, October 28, 2021 9:03 AM | MT Newswires

Health care stocks were edging higher ahead of Thursday's opening bell. The Health Care SPDR (XLV) was 0.2% higher while the iShares NASDAQ Biotechnology Index (IBB) was up 0.3% recently.

Rafael Holdings (RFL) slumped by 78% after saying that the late-stage trial of CPI-613 combined with modified Folfirinox in patients with metastatic adenocarcinoma of the pancreas did not meet its primary endpoint of overall survival.

In other company news, Merck (MRK) reported higher fiscal Q3 results and raised its full-year financial guidance. MRK shares gained 2% in premarket trading.

Molina Health (MOH) shares rose by almost 1% after the managed care company reported lower adjusted profit on higher revenue in Q3.

Teladoc Health (TDOC) dropped 5% after reporting a wider Q3 loss.

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