09:24 AM EDT, 03/11/2024 (MT Newswires) -- Health care stocks were leaning lower premarket Monday as the Health Care Select Sector SPDR Fund (XLV) was down 0.4% and the iShares Biotechnology ETF ( IBB ) was recently inactive.

Fortrea Holdings ( FTRE ) was over 7% lower after it reported Q4 adjusted earnings of $0.19 per diluted share, down from $0.92 a year earlier and lower than Capital IQ consensus of $0.23.

Legend Biotech ( LEGN ) was up almost 3% after it reported a narrowed Q4 loss as revenue increased during the period.

Mesoblast (MESO) was rallying past 17% after saying the US Food and Drug Administration supports an accelerated approval for its rexlemestrocel-L cell therapy in end-stage heart failure patients with a left ventricular assist device.