03:59 PM EDT, 11/01/2024 (MT Newswires) -- Health care stocks advanced late Friday afternoon, with the NYSE Health Care Index rising 0.7% and the Health Care Select Sector SPDR Fund (XLV) up 0.6%.

The iShares Biotechnology ETF (IBB) climbed 1.6%.

In corporate news, Maximus ( MMS ) shares rose 0.5% after the company initiated legal action against the rebid of the 1-800-MEDICARE and Federal Marketplace contract.

Essa Pharma ( EPIX ) shares plunged 71% after it said it's terminating a phase 2 trial assessing the combination of masofaniten and enzalutamide in patients with metastatic castration-resistant prostate cancer compared with enzalutamide alone.

Lexicon Pharmaceuticals ( LXRX ) shares tumbled nearly 38%. The company said late Thursday that the Endocrinologic and Metabolic Drugs Advisory Committee of the US Food and Drug Administration voted 11-3 against recommending Zynquista as an add-on to insulin therapy for glycemic control in adults with type 1 diabetes and chronic kidney disease.

Cardinal Health ( CAH ) reported fiscal Q1 results that topped Wall Street expectations amid a double-digit profit increase in its pharmaceutical and specialty solutions segment, prompting the drug distributor to lift its full-year earnings outlook. Its shares popped past 7%.