03:59 PM EDT, 04/02/2025 (MT Newswires) -- Health care stocks rose late Wednesday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) adding 0.5%.

The iShares Biotechnology ETF (IBB) climbed 1.8%.

In corporate news, Denali Therapeutics ( DNLI ) shares jumped 14% after it said Wednesday it has submitted a biologics license application to the US Food and Drug Administration for accelerated approval of its Hunter syndrome investigational therapeutic, tividenofusp alfa.

Arcutis Biotherapeutics ( ARQT ) shares climbed 11% after it said Wednesday it has acceded to a request by Padagis to stay a patent lawsuit over Arcutis' Zoryve cream 0.3% for plaque psoriasis.

Labcorp ( LH ) shares added 1.8%. The company said Wednesday it launched a blood-based biomarker test to help diagnose Alzheimer's disease.

Johnson & Johnson ( JNJ ) completed its purchase of Intra-Cellular Therapies. The deal is expected to reduce 2025 adjusted earnings by $0.25 a share versus a previous estimate of $0.30 to $0.35, the company said. Johnson & Johnson ( JNJ ) shares rose 1.5%.