Sector Update: Health Care Stocks Inch Higher Pre-Bell Monday

Last Updated: Monday, December 6, 2021 9:03 AM | MT Newswires

Health care stocks were flat to positive in the lead up to Monday's opening bell as the Health Care SPDR (XLV) gained 0.2% and the iShares NASDAQ Biotechnology Index (IBB) was unchanged recently.

Mesoblast (MESO) climbed 5.6% after news that its cardiovascular disease drug candidate rexlemestrocel-L showed the most benefit in patients with diabetes and/or ischemia.

Molecular Partners (MOLN) reported that its investigational drug ensovibep was shown to be safe and well-tolerated in a phase 2a trial in COVID-19 patients with mild to moderate symptoms. Shares of the company were down 0.5%.

Longeveron (LGVN) retreated 5.3%, reversing from Friday's 11% gain after the company announced the closing of a private placement of about 1.2 million common shares sold at $17.50 apiece, which raised gross proceeds of about $20.5 million.

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