08:59 AM EST, 11/29/2024 (MT Newswires) -- Health care stocks advanced pre-bell Friday with the Health Care Select Sector SPDR Fund (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) 0.7% higher recently.

Applied Therapeutics ( APLT ) said late Wednesday that the US Food and Drug Administration issued a complete response letter indicating the health regulator's decision not to approve the new drug application for govorestat to treat classic galactosemia due to "deficiencies in the clinical application." Applied Therapeutics ( APLT ) shares tumbled by over 74% premarket.