03:55 PM EDT, 08/30/2024 (MT Newswires) -- Health care stocks were advancing late Friday afternoon with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%.

The iShares Biotechnology ETF (IBB) shed 0.2%.

In corporate news, Novavax ( NVAX ) shares jumped nearly 9% after the company secured the US Food and Drug Administration's emergency use authorization for the updated COVID-19 vaccine designed to target current variants, including the Omicron JN.1 strain, the agency said Friday.

Work Medical Technology ( WOK ) shares surged past 21% in recent trading, a day after it said the underwriter of its initial public offering partially exercised an overallotment option to buy additional shares.

MediciNova ( MNOV ) shares rose 11% after it said late Thursday that its drug MN-166 was due to receive a US patent.

NuCana ( NCNA ) shares plunged 54% after it said late Thursday it is discontinuing phase 2 testing of its NUC-3373 drug candidate to treat colorectal cancer.