03:55 PM EDT, 07/24/2024 (MT Newswires) -- Health care stocks were rising late Wednesday afternoon, with the NYSE Health Care Index adding 0.6% and the Health Care Select Sector SPDR Fund (XLV) up 0.9%.

The iShares Biotechnology ETF (IBB) advanced 0.4%.

In corporate news, Bausch Health ( BHC ) on Wednesday denied a Reorg report it's considering a bankruptcy or insolvency proceeding. Bausch Health ( BHC ) shares were falling more than 23%.

Hoth Therapeutics ( HOTH ) shares jumped 15% after it said Wednesday it has signed a deal with LTS Therapy Systems to develop and make an oral film prototype.

Thermo Fisher Scientific ( TMO ) shares climbed 3.6%. The company increased its full-year earnings outlook on Wednesday as its Q2 results beat market expectations.

Pieris Pharmaceuticals ( PIRS ) shares soared 85%. The company and Palvella Therapeutics said Wednesday they have agreed to merge in an all-stock deal.