08:52 AM EST, 11/27/2024 (MT Newswires) -- Health care stocks were flat to higher premarket Wednesday as the Health Care Select Sector SPDR Fund (XLV) was inactive and the iShares Biotechnology ETF (IBB) was recently up 0.6%.

Outlook Therapeutics ( OTLK ) shares tumbled by over 80% after the company said preliminary results from the second of two clinical trials evaluating its experimental drug ONS-5010, an opthalmic formulation of bevacizumab in wet age-related macular degeneration patients, did not meet the pre-specified non-inferiority endpoint in the special protocol assessment with the US Food and Drug Administration.