Sector Update: Health Care Stocks Rise in Monday Afternoon Trading

Health care stocks were higher Monday afternoon, with the NYSE Health Care Index adding 0.3% and the Health Care Select Sector SPDR Fund (XLV) up nearly 0.3%.

The iShares Biotechnology ETF (IBB) climbed 1.8%.

In corporate news, Deciphera Pharmaceuticals DCPH on Monday agreed to be acquired by Japan's ONO Pharmaceutical through a tender offer in a deal worth about $2.4 billion. Deciphera shares surged 72%.

Annovis Bio (ANVS) shares was down 51% after the company's phase 2/3 study of buntanetap to treat mild to moderate Alzheimer's disease missed an efficacy endpoint "due to the limited number of patients and short trial duration."

Sight Sciences (SGHT) said Monday it has received a jury trial verdict of $34 million related to the patent-infringement case it filed in September 2021 against Alcon (ALC) in the US District Court for the District of Delaware. Sight Sciences shares jumped 9.5%.