03:55 PM EDT, 04/29/2024 (MT Newswires) -- Health care stocks were advancing late Monday afternoon, with the NYSE Health Care Index fractionally up and the Health Care Select Sector SPDR Fund (XLV) 0.1% higher.

The iShares Biotechnology ETF (IBB) climbed 1.3%.

In corporate news, Addex Therapeutics ( ADXN ) shares plunged 53% after the company said adjunctive administration of its investigational drug ADX71149 with levetiracetam or brivaracetam did not meet the primary goal of the phase 2 study.

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 soared 72%.

Sight Sciences ( SGHT ) said Monday it has received a jury trial verdict of $34 million related to the patent-infringement lawsuit it filed in September 2021 against Alcon ( ALC ) in the US District Court for the District of Delaware. Sight Sciences ( SGHT ) shares jumped almost 10%.

Annovis Bio ( ANVS ) sank 59% 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."