09:18 AM EDT, 03/12/2024 (MT Newswires) -- Health care stocks were gaining premarket Tuesday as the Health Care Select Sector SPDR Fund (XLV) was marginally advancing and the iShares Biotechnology ETF ( IBB ) was recently up by 0.2%.

Assure Holdings ( IONM ) was rallying past 60% after saying it signed an agreement to sell certain assets of its IONM business, including most of its health care facility contracts and clinical equipment, to MPOWERHealth for up to $4.5 million.

Acadia Pharmaceuticals ( ACAD ) was down more than 17% after saying pimavanserin failed to demonstrate significant improvement compared with placebo in a phase 3 study for the treatment of schizophrenia.

Larimar Therapeutics ( LRMR ) was up almost 2% after saying it dosed the first patient in its open-label extension study of 25 milligrams daily injection of nomlabofusp in patients with Friedreich's ataxia, a neurodegenerative movement disorder.