09:14 AM EDT, 04/09/2025 (MT Newswires) -- Health care stocks were falling premarket Wednesday, with The Health Care Select Sector SPDR Fund ( XLV ) down 2.1% and the iShares Biotechnology ETF (IBB) 2.3% lower.

Neogen (NEOG) shares were down more than 20% after the company reported lower fiscal Q3 adjusted earnings and revenue in addition to cutting its fiscal 2025 sales outlook.

NeOnc Technologies ( NTHI ) stock was up over 6% after the company said its phase 1 trial of NEO212 for the treatment of brain cancer is nearing full enrollment.

Phio Pharmaceuticals ( PHIO ) shares were up over 140% after the company said the Safety Monitoring Committee has recommended dose escalation in its phase 1b clinical trial of PH-762 as a potential neoadjuvant treatment for cutaneous squamous cell carcinoma, melanoma or Merkel cell carcinoma.