01:43 PM EST, 12/23/2024 (MT Newswires) -- Health care stocks were higher Monday afternoon, with the NYSE Health Care Index rising 0.7% and the Health Care Select Sector SPDR Fund (XLV) up 0.5%.

The iShares Biotechnology ETF (IBB) added 0.2%.

In corporate news, Ikena Oncology ( IKNA ) and clinical-stage biotech company Inmagene Biopharmaceuticals said Monday they have agreed to merge, in a deal that will result in the latter owning about 43.5% of the combined company. Ikena shares surged nearly 13%.