Health care stocks were lower Monday afternoon, with the NYSE Health Care Index shedding 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.1%.
The iShares Biotechnology ETF (IBB) retreated 0.1%.
In corporate news, Novo Nordisk (NVO) shares fell 9% after the latest trial results of the Danish drugmaker's investigative weight loss drug, CagriSema, trailed its own initial expectations.
Checkpoint Therapeutics (CKPT) shares were rising nearly 62% after the firm and India's Sun Pharmaceutical said Sunday that Checkpoint has agreed to be acquired by Sun for $4.10 a share in cash plus a non-transferable contingent value right.
BioNTech (BNTX) reported a decline in Q4 revenue and projected full-year sales to fall again in 2025. Its shares fell 2.6%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.