03:45 PM EDT, 07/23/2025 (MT Newswires) -- Health care stocks rose late Wednesday afternoon with the NYSE Health Care Index advancing 2.2% and the Health Care Select Sector SPDR Fund (XLV) adding 1.9%.

The iShares Biotechnology ETF (IBB) climbed 1.9%.

In corporate news, Abivax ( ABVX ) shares surged almost sevenfold after the company said its investigational ulcerative colitis drug candidate obefazimod met the primary endpoint of clinical remission in two global Phase 3 trials.

Clearside Biomedical ( CLSD ) shares rose 62% after Health Canada approved the company's Xipere for suprachoroidal use in the treatment of uveitic macular edema.

Thermo Fisher Scientific ( TMO ) raised its full-year guidance as Q2 results surpassed Wall Street's estimates, and the company named a new chief financial officer. The shares gained 9.8%.

Boston Scientific ( BSX ) lifted its full-year outlook after better-than-expected Q2 results, driven by 27% revenue growth in the cardiovascular segment. The stock gained 4.3%.