09:12 AM EDT, 05/23/2024 (MT Newswires) -- Health care stocks were flat to lower premarket Thursday, with the iShares Biotechnology ETF ( IBB ) inactive and the Health Care Select Sector SPDR Fund ( XLV ) down 0.1% recently.

Tango Therapeutics ( TNGX ) fell more than 9% after saying it will discontinue developing its TNG348 program due to liver toxicity experienced by patients during clinical trials.

Cytokinetics ( CYTK ) declined more than 15% after it priced an underwritten public offering of about 9.8 million common shares at $51 per share for expected gross proceeds of about $500 million.

Medtronic ( MDT ) was 0.5% lower after it reported fiscal Q4 non-GAAP earnings of $1.46 per diluted share, down from $1.57 a year earlier.