Sector Update: Health Care Stocks Higher in Afternoon Trading

Health care stocks were rising Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.2%.

The iShares Biotechnology ETF (IBB) rose 1%.

In corporate news, ResMed RMD shares surged almost 19% after the company reported fiscal Q3 non-GAAP earnings of $2.13 per diluted share, up from $1.68 a year earlier. Analysts surveyed by Capital IQ expected $1.91.

Biodexa Pharmaceuticals BDRX was up 67% after it said Friday it has signed a deal with Emtora Biosciences for the exclusive, global rights for eRapa, a phase 3-ready drug to treat familial adenomatous polyposis, an inherited disease that affects the gastrointestinal tract.

Tevogen Bio TVGN was gaining nearly 18% as it said it expects to disclose the elimination of $94.9 million in pro forma balance sheet liabilities after the conversion of promissory notes into shares.