03:43 PM EDT, 08/22/2025 (MT Newswires) -- Health care stocks rose late Friday afternoon, with the NYSE Health Care Index adding 1% and the Health Care Select Sector SPDR Fund (XLV) up 0.8%.

The iShares Biotechnology ETF (IBB) increased 1.1%.

In corporate news, Incannex Healthcare ( IXHL ) shares surged 26% after the company said its board approved a $20 million share buyback program.

Option Care Health ( OPCH ) shares rose 3.1% after regulatory filings from Thursday showed that four of the company's board directors bought a total of 57,750 shares.

Moderna ( MRNA ) shares popped 3.5% after the company said Health Canada has approved Spikevax, its updated COVID-19 mRNA vaccine targeting the SARS-CoV-2 LP.8.1 variant, for individuals aged at least six months.

Biohaven ( BHVN ) shares jumped past 7%. The company said in a filing late Thursday that it was informed by the US Food and Drug Administration that an advisory committee meeting is no longer needed in relation to its new drug application for troriluzole to treat adults with spinocerebellar ataxia.