01:58 PM EST, 12/20/2024 (MT Newswires) -- Health care stocks rose Friday afternoon, with the NYSE Health Care Index up 0.5% and the Health Care Select Sector SPDR Fund (XLV) gaining 1.8%.

The iShares Biotechnology ETF (IBB) climbed 1.6%.

In corporate news, Novo Nordisk ( NVO ) shares tumbled nearly 18% after clinical trial results of the Danish pharmaceutical giant's investigative weight loss drug fell short of its own expectations.

Synaptogenix ( SNPX ) shares surged 17% after its board formed an independent special committee to explore strategic opportunities, including drug development platforms and new technologies and services.

Renovaro ( RENB ) shares rose 5% after the company said its Renovaro Cube unit has launched a collaboration with AI cloud infrastructure firm Nebul to advance early detection of cancer and other diseases.