09:07 AM EDT, 03/25/2025 (MT Newswires) -- Health care stocks were steady premarket Tuesday as the Health Care Select Sector SPDR Fund ( XLV ) slightly advanced and the iShares Biotechnology ETF (IBB) was inactive recently.

Alumis ( ALMS ) shares rose by over 57% after the company and Kaken Pharmaceutical said they signed a collaboration and licensing agreement to develop, manufacture, and commercialize ESK-001 for dermatology indications in Japan, with an option to expand the license to include rheumatological and gastrointestinal diseases.

Mural Oncology ( MURA ) shares tumbled by over 49% after the company said it will stop development of nemvaleukin alfa for platinum-resistant ovarian cancer as it believes a phase 3 trial of the drug combined with Merck's ( MRK ) Keytruda is "highly unlikely to achieve success" at the final analysis.

Axsome Therapeutics ( AXSM ) shares were up 0.6% after the company said the phase 3 trial of solriamfetol as a potential treatment for attention deficit hyperactivity disorder achieved its primary and key secondary endpoints, demonstrating "statistically significant" improvement in symptoms and disease severity.