09:22 AM EST, 12/11/2024 (MT Newswires) -- Health care stock were edging higher pre-bell Wednesday as the Health Care Select Sector SPDR Fund ( XLV ) was slightly advancing and the iShares Biotechnology ETF (IBB) was up 0.3% recently.

Patterson (PDCO) shares rallied past 34% after the company said it has agreed to be acquired by health care investment firm Patient Square Capital for $31.35 per share in cash.

Candel Therapeutics ( CADL ) shares surged by more than 167% after the company said a phase 3 trial of CAN-2409 to treat localized prostate cancer met its primary endpoint.

Blackstone (BX) has decided not to proceed with a joint takeover bid for eyecare company Bausch + Lomb ( BLCO ) , the Financial Times reported, citing people familiar with talks. Bausch + Lomb ( BLCO ) shares were down more than 12% premarket.