01:53 PM EDT, 05/10/2024 (MT Newswires) -- Health care stocks rose Friday afternoon, with the NYSE Health Care Index gaining 0.3% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Novavax ( NVAX ) shares doubled after it struck a licensing deal with Sanofi ( SNY ) to co-commercialize the former's adjuvanted COVID-19 vaccine and develop combination vaccines against influenza. Sanofi ( SNY ) rose 0.8%.

Moderna ( MRNA ) shares dropped 4.1% after the US Food and Drug Administration pushed back its pending review of the company's respiratory syncytial virus vaccine to the end of the month due to "administrative constraints."

Progyny ( PGNY ) shares plunged 19% after the company reported a revenue miss in Q1. KeyBanc also downgraded the stock.