09:07 AM EDT, 06/14/2024 (MT Newswires) -- Health care stocks were leaning lower pre-bell Friday with the Health Care Select Sector SPDR Fund ( XLV ) and iShares Biotechnology ETF ( IBB ) recently declining by 0.3%

Cabaletta Bio ( CABA ) was over 4% higher after saying initial data from each of the first two patients dosed with its CABA-201 experimental therapy to treat autoimmune disease in early-to-mid-stage studies showed the treatment was well-tolerated and potentially effective in resetting the immune system.

Vaxart ( VXRT ) was up more than 5% after saying it received a project award of about $453 million to conduct a phase 2b clinical trial evaluating its Covid-19 oral pill vaccine candidate against an approved mRNA vaccine comparator.

Ultragenyx Pharmaceutical ( RARE ) fell by nearly 6% after it priced an underwritten public offering of 7.4 million common shares at $39 per share for expected gross proceeds of about $350 million.