08:45 AM EDT, 04/29/2024 (MT Newswires) -- Health care stocks were edging higher pre-bell Monday with the iShares Biotechnology ETF (IBB) recently up 0.2% and the Health Care Select Sector SPDR Fund (XLV) 0.5% higher.

Deciphera Pharmaceuticals ( DCPH ) shares were rallying past 70% after the company said it has entered into a definitive merger agreement with ONO Pharmaceutical, where ONO will acquire all outstanding shares of Deciphera common stock for $25.60 per share in cash, resulting in a total equity value of $2.4 billion.