03:58 PM EST, 03/03/2025 (MT Newswires) -- Health care stocks were edging higher late Monday afternoon, with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund (XLV) adding 0.1%

The iShares Biotechnology ETF (IBB) fell 2.3%.

In corporate news, BioXcel Therapeutics ( BTAI ) shares surged 68%. The company said Monday that the US Food and Drug Administration has concluded that the inspection of a single site in its Tranquility II Phase 3 trial is closed. The company said the conclusion further supports the reliability of data from the trial of BXCL501, an investigational treatment for agitation in Alzheimer's dementia, bipolar disorder, and schizophrenia.

Aclarion ( ACON ) shares soared 107% after it said it has established a commercial agreement with Scripps Health that will add its Nociscan technology platform to treat lower back pain to Scripps facilities in San Diego.

AbbVie ( ABBV ) said it struck a licensing deal with Danish biotechnology company, Gubra, to develop a potential candidate for obesity treatment. AbbVie ( ABBV ) shares rose 1.1%.

Pliant Therapeutics ( PLRX ) shares fell 58% after it said it has ended its Beacon-IPF phase 2b trial of bexotegrast in idiopathic pulmonary fibrosis after an independent review found an imbalance in IPF-related adverse events between treatment and placebo groups.