09:16 AM EDT, 07/02/2025 (MT Newswires) -- Health care stocks were mixed pre-bell Wednesday as the Health Care Select Sector SPDR Fund ( XLV ) was down 0.4% and the iShares Biotechnology ETF (IBB) was marginally advancing recently.

Centene ( CNC ) shares were down more than 32% after the company withdrew its previously reiterated adjusted earnings outlook of more than $7.25 per diluted share for 2025, citing lower-than-expected revenue from most states where it provides health insurance marketplace plans.

Organon (OGN) shares were down more than 1% after the company said its phase 2 study of OG-6219 in patients with endometriosis-related pain did not meet its primary endpoint and that it will discontinue development of the drug candidate.

Instil Bio ( TIL ) shares were up nearly 10% after the company said the US Food and Drug Administration has cleared its investigational new drug application for AXN-2510, a bispecific antibody that targets relapsed solid tumors in non-small cell lung cancer.