Sector Update: Health Care Stocks Under Pressure Near Friday Close

Last Updated: Friday, September 24, 2021 3:33 PM | MT Newswires

Health care stocks remained under pressure in late trade, with the NYSE Health Care Index down 0.4% while the Health Care Select Sector SPDR ETF (XLV) fell 0.5%. The Nasdaq Biotechnology Index dropped 1.7%.

In company news, Novo Nordisk (NVO) said it has agreed to pay $100 million to settle a securities class action lawsuit filed in 2017 against the pharmaceutical company and some of its executives. The stock was 1.2% lower.

Cue Health (HLTH) made its debut on the Nasdaq and was 28% higher near the close after the COVID-19 test manufacturer priced its initial public offering of 12.5 million shares at $16 apiece.

Kintara Therapeutics (KTRA) shares were down about 20% after it commenced a registered direct offering of 12 million common shares and warrants to purchase another equal number of shares, for gross proceeds of $15 million.

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