09:15 AM EDT, 10/23/2024 (MT Newswires) -- Health care stocks were steady premarket Wednesday with the iShares Biotechnology ETF (IBB) and Health Care Select Sector SPDR Fund ( XLV ) recently inactive.

Alto Neuroscience ( ANRO ) shares tumbled by over 62% after the company said a phase 2b study of ALTO-100 in patients with major depressive disorder failed to meet its primary endpoint compared with placebo.

Evotec (EVO) shares were almost 8% higher after the company said it will receive a $50 million payment as part of its partnership with Bristol Myers Squibb ( BMY ) to develop a molecular glue-based pipeline.

Thermo Fisher Scientific ( TMO ) shares were down almost 2% after the company reported Q3 adjusted earnings of $5.28 per diluted share, down from $5.69 a year earlier.