09:12 AM EDT, 06/12/2024 (MT Newswires) -- Health care stocks rose in Wednesday's premarket hours with the Health Care Select Sector SPDR Fund ( XLV ) advancing by 0.3% and the iShares Biotechnology ETF ( IBB ) 0.7% higher recently.

Ultragenyx Pharmaceutical ( RARE ) and Mereo BioPharma Group ( MREO ) said a phase 2 study of setrusumab showed "ongoing and meaningful improvements" in the lumbar spine bone mineral density of patients with osteogenesis imperfect. Mereo BioPharma ( MREO ) was up more than 10% pre-bell.

PetMed Express ( PETS ) was nearly 8% lower after late Tuesday it reported a fiscal Q4 net loss of $0.25 per diluted share

, compared with $0.01 loss per share a year earlier.

Scilex Holding ( SCLX ) said it signed a commitment letter with Perigrove and Graf Holdings as lenders for a $100 million, five-year term financing with royalty-based payments. Scilex Holding ( SCLX ) was nearly1% lower premarket.