02:00 PM EST, 11/20/2024 (MT Newswires) -- Health care stocks were higher Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each up about 0.8%.

The iShares Biotechnology ETF (IBB) added 0.6%.

In corporate news, Eyenovia ( EYEN ) shares sank more than 24% after the company reported talks over a potential restructuring.

Aptevo Therapeutics ( APVO ) shares jumped 6% after the company said the first patient with acute myeloid leukemia dosed in a phase 1b/2 trial evaluating its mipletamig immune-oncology candidate together with standard of care venetoclax and azacitidine achieved a 90% reduction in leukemic blasts within the first 30 days of treatment.

Johnson & Johnson ( JNJ ) and Merck ( MRK ) are cutting jobs in China amid growing competition from domestic rivals, Bloomberg reported. Johnson & Johnson ( JNJ ) shares were down 0.2%, and Merck ( MRK ) was adding 0.9%.