09:14 AM EDT, 09/16/2024 (MT Newswires) -- Health care stocks were flat to higher premarket Monday as the Health Care Select Sector SPDR Fund ( XLV ) was inactive and the iShares Biotechnology ETF ( IBB ) was up 0.2% recently.

Nuvalent ( NUVL ) shares rose past 22% after the company launched an underwritten public offering of $350 million of its shares of Class A common stock.

Immatics ( IMTX ) shares declined by over 10% after the company said it has ended its partnership with Bristol-Myers Squibb ( BMY ) to co-develop IMA401, targeting melanoma-associated antigen, because of current portfolio prioritization within the latter.

Replimune Group ( REPL ) shares were up more than 3% after the company said an analysis of a trial of its drug RP1 combined with nivolumab showed "clinically meaningful and durable systemic anti-tumor activity" in patients with anti-PD1 failed melanoma.