02:08 PM EDT, 09/10/2024 (MT Newswires) -- Health care stocks were advancing Tuesday afternoon, with the NYSE Health Care Index edging up 0.2% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%.

The iShares Biotechnology ETF (IBB) shed 0.1%.

In corporate news, Centessa Pharmaceuticals ( CNTA ) shares rose 1.7% after the company said ORX750 was found to restore wakefulness in acutely sleep-deprived healthy volunteers.

Teva Pharmaceutical (TEVA) is expected to face a fine by the EU's antitrust watchdog for being dismissive of a rival multiple sclerosis drug competing with Copaxone, according to media reports Tuesday. Teva shares fell 1.5%.

Ionis Pharmaceuticals ( IONS ) shares tumbled 12% after the company priced an underwritten public offering of 11.5 million shares at $43.50 per share for proceeds of about $500 million.