03:56 PM EST, 12/30/2024 (MT Newswires) -- Health care stocks were declining late Monday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each falling 1.1%.

The iShares Biotechnology ETF (IBB) dropped 1.3%.

In corporate news, Inogen (INGN) shares rose nearly 6% after the company said Monday it received US Food and Drug Administration clearance for its Simeox 200 airway clearance device, which is designed to help people with chronic respiratory diseases manage bronchial drainage.

Rocket Pharmaceuticals' ( RCKT ) pipeline development together with its in-house manufacturing capacity are expected to support "strong" long-term growth potential for the company, Wedbush said in a note. Wedbush initiated Rocket with an outperform rating and a $32 price target. Rocket shares added 2.4%.

Marinus Pharmaceuticals ( MRNS ) shares surged 43% after the company said it signed a deal under which Immedica Pharma will buy all of its issued and outstanding stock for $0.55 a share.

Emergent BioSolutions ( EBS ) shares jumped 12% after HC Wainwright started coverage of the stock with a buy rating and a $15 price target.