09:15 AM EDT, 03/19/2024 (MT Newswires) -- Health care stocks were leaning lower premarket Tuesday, with the iShares Biotechnology ETF ( IBB ) inactive and the Health Care Select Sector SPDR Fund (XLV) was recently down 0.2%.

Fusion Pharmaceuticals ( FUSN ) was rallying past 97% after AstraZeneca ( AZN ) said it has agreed to acquire the company in a deal valued at about $2.4 billion.

Crinetics Pharmaceuticals ( CRNX ) was almost 10% higher after saying a phase 3 trial evaluating paltusotine for treating acromegaly met its primary and secondary endpoints.

Madrigal Pharmaceuticals ( MDGL ) was down more than 3% after it priced an underwritten public offering of 750,000 shares at $260 per share and prefunded warrants to purchase roughly 1.6 million shares at $259.99 per warrant.