09:19 AM EDT, 04/02/2026 (MT Newswires) -- Health care stocks were declining premarket Thursday, with the State Street Health Care Select Sector SPDR ETF ( XLV ) 0.7% lower and the iShares Biotechnology ETF (IBB) down 1.6%.

Immunovant ( IMVT ) shares were down more than 10% after the company said topline results from two phase 3 clinical studies of batoclimab as an experimental treatment of thyroid eye disease in adults showed that they failed to meet their primary endpoint.

Novo Nordisk ( NVO ) said its 25 mg Wegovy pill demonstrated "significantly greater" mean weight loss than Eli Lilly's ( LLY ) 36 mg orforglipron, which was approved by the Food and Drug Administration under the brand name Foundayo. Shares of Novo Nordisk ( NVO ) were down more than 1% pre-bell.

Adagene ( ADAG ) stock was down more than 15% after the company priced an underwritten public offering of about 18.7 million American depositary shares at $3.75 apiece, for gross proceeds of roughly $70 million.