04:02 PM EDT, 09/12/2024 (MT Newswires) -- Health care stocks rose Thursday with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both up 0.4%.

The iShares Biotechnology ETF (IBB) was little changed.

In corporate news, Eli Lilly ( LLY ) shares gained 1.6%. The company said it's investing $1 billion to expand its manufacturing site in Limerick, Ireland, to increase production of biologic active ingredients, including those used for its treatment of early symptomatic Alzheimer's disease.

Monopar Therapeutics ( MNPR ) shares surged 65% after it reported positive early data from a phase 1 trial of MNPR-101-Zr to treat multiple types of cancer.

Moderna ( MRNA ) shares tumbled 12% after the company said it plans to cut research and development spending to save costs and prioritize the launch of new products in the pipeline.

Oncternal Therapeutics' ( ONCT ) shares plunged 58% after the company decided to discontinue its clinical studies, all product development activities, cut some staff and explore strategic alternatives.