09:12 AM EDT, 10/01/2024 (MT Newswires) -- Health care stocks were steady premarket Tuesday with the Health Care Select Sector SPDR Fund ( XLV ) up 0.01% and the iShares Biotechnology ETF ( IBB ) inactive recently.

Shattuck Labs ( STTK ) shares fell past 62% after the company said it will discontinue its SL-172154 clinical program for the treatment of acute myeloid leukemia and higher-risk myelodysplastic syndromes.

IGM Biosciences ( IGMS ) shares declined by over 27% after the company said it plans to cut spending on aplitabart and other oncology candidates in a "strategic pivot" to focus on autoimmunity.

Biohaven ( BHVN ) shares were down more than 2% after the company priced an underwritten public offering of about 5.3 million of its common shares at $47.50 per share, for expected gross proceeds of about $250 million.