-- Health care stocks rose late Monday afternoon, with the NYSE Health Care Index up 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.3%.
The iShares Biotechnology ETF (IBB) climbed 1.6%.
In corporate news, Seer (SEER) shares jumped 12% after it confirmed Monday that it has received a non-binding and unsolicited offer from its shareholder Radoff-JEC Group to acquire all its outstanding Class A shares for $2.25 per share in cash plus a contingent value right.
Revolution Medicines (RVMD) shares surged 40% after it said Monday the phase 3 trial of its experimental drug daraxonrasib to treat a type of pancreatic cancer met key goals.
Spyre Therapeutics (SYRE) shares jumped 23% after the company said its SPY001 investigational treatment for moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.
Replimune (REPL) is facing "significant risk" related to its ongoing phase 3 trial of RP1 in melanoma after the US Food and Drug Administration rejected the company's biologics license application for the product candidate, Wedbush Securities said in a note. Wedbush downgraded its rating on Replimune to neutral from outperform, with a lower price target of $2 from $19. Replimune shares tumbled 63%.