03:45 PM EST, 11/22/2024 (MT Newswires) -- Health care stocks were edging up late Friday afternoon, with the NYSE Health Care Index adding 0.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.

The iShares Biotechnology ETF (IBB) climbed 1.4%.

In corporate news, Lexicon Pharmaceuticals ( LXRX ) shares jumped 9.6%. The company said Friday it plans to cut 60% of its workforce, with most departures effective by Dec. 31, as part of a shift to focus on its clinical development pipeline.

Anixa Biosciences ( ANIX ) shares popped 4.6% after it said Friday it has received board approval to buy bitcoin as a treasury reserve asset.

Biofrontera (BFRI) shares surged 21% after the company raised $4.2 million from a private placement of a senior secured convertible note with its principal shareholders.

Halozyme Therapeutics ( HALO ) shares gained 8% after the company said it has withdrawn its proposal to buy Evotec (EVO) for 11 euros ($11.47) per share in cash. Evotec shares plunged over 16%.