03:57 PM EST, 12/20/2024 (MT Newswires) -- Health care stocks advanced late Friday afternoon, with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund (XLV) adding 1.6%.

The iShares Biotechnology ETF (IBB) climbed 1.5%.

In corporate news, Pfizer ( PFE ) said the US Food and Drug Administration approved a combination of its Braftovi cancer drug with Eli Lilly's ( LLY ) Erbitux and three other chemotherapies to treat patients with metastatic colorectal cancer. Pfizer ( PFE ) shares rose 2.2%, and Eli Lilly ( LLY ) added 2.1%.

RxSight ( RXST ) shares dropped 11% after Stifel downgraded the company's stock to hold from buy and cut its price target to $40 from $65.

Novo Nordisk ( NVO ) shares tumbled 17% after clinical trial results of the company's investigative weight loss drug fell short of its own expectations.

Synaptogenix ( SNPX ) shares jumped 16% after its board formed an independent special committee to explore strategic opportunities, including drug development platforms and new technologies and services.