-- Health care stocks declined late Tuesday afternoon, with the NYSE Health Care Index down 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.6%.
The iShares Biotechnology ETF (IBB) decreased 0.6%.
In corporate news, Passage Bio (PASG) faces a tougher path after US regulators told the company it will need to run a randomized study to support approval of its experimental treatment PBFT02, a move that adds time, cost, and uncertainty, Wedbush said Tuesday in a report. Wedbush downgraded Passage Bio's stock to neutral from outperform and cut its price target to $8 from $32. Passage Bio shares dropped 0.8%.