03:57 PM EDT, 09/29/2025 (MT Newswires) -- Health care stocks advanced late Monday afternoon with the NYSE Health Care Index climbing 0.2% and the Health Care Select Sector SPDR Fund (XLV) gaining 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.9%.

In corporate news, Tilray Brands ( TLRY ) shares surged 55% after President Donald Trump advocated the potential benefits of cannabidiol in senior health care in a social media post.

Outlook Therapeutics ( OTLK ) shares jumped 10%. The company expects to resubmit its biologics license application for ONS-5010, an investigational treatment for wet macular degeneration, after completing a Type A meeting with the US Food and Drug Administration.

MoonLake Immunotherapeutics ( MLTX ) shares tumbled 90%. The company released data from a late-stage study of its investigational drug, sonelokimab, for treating hidradenitis suppurativa, a chronic inflammatory skin disease, and at least four analysts downgraded the stock.

Genmab ( GMAB ) agreed to buy Merus (MRUS) for $8 billion in cash. Genmab ( GMAB ) shares rose 0.5%, and Merus surged 36%.