09:11 AM EST, 01/27/2025 (MT Newswires) -- Health care stocks were mixed premarket Monday, with The Health Care Select Sector SPDR Fund ( XLV ) up 0.4% and the iShares Biotechnology ETF (IBB) 0.3% lower.

Akero Therapeutics ( AKRO ) shares were up over 110% after the company said a phase 2b study of its lead product candidate efruxifermin showed a "statistically significant" reversal of compensated cirrhosis caused by metabolic dysfunction-associated steatohepatitis, or MASH.

Allakos ( ALLK ) stock was down past 73% after the company said its phase 1 trial of AK006 in chronic spontaneous urticaria failed to demonstrate therapeutic efficacy and its development will be terminated immediately.

Innate Pharma ( IPHA ) shares were up over 7% after the company said it has dosed its first patient in a phase 1 study to investigate the safety and tolerability of IPH4502, an antibody-drug conjugate for the potential treatment of patients with advanced solid tumors known to express Nectin-4.