01:38 PM EDT, 04/03/2024 (MT Newswires) -- Health care stocks were rising Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both up 0.2%.

The iShares Biotechnology ETF (IBB) decreased 0.1%.

In corporate news, Arca Biopharma ( ABIO ) and Oruka Therapeutics said Wednesday that they have agreed to merge in an all-stock deal. Arca shares surged 76%.