03:55 PM EDT, 04/03/2024 (MT Newswires) -- Health care stocks were easing late Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each decreasing 0.1%.

The iShares Biotechnology ETF (IBB) shed 0.4%.

In corporate news, Kintara Therapeutics ( KTRA ) shares surged nearly 63% after the company and TuHURA Biosciences said they have struck an all-stock merger deal.

Atai Life Sciences ( ATAI ) jumped 28% after Maxim upgraded the stock to buy from hold, with a price target of $6.

Arca Biopharma ( ABIO ) and Oruka Therapeutics said Wednesday that they have agreed to merge in an all-stock deal. Arca shares skyrocketed more than 87%.

Asensus Surgical ( ASXC ) shares popped 31% after the company said Wednesday that it has entered into a non-binding letter of intent with medical technology company Karl Storz for a potential acquisition of Asensus.