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Sector Update: Healthcare Stocks Decline in Afternoon Trading

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Healthcare stocks were lower Wednesday afternoon, with the NYSE Healthcare Index down 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) easing 0.2%.

The iShares Biotechnology ETF (IBB) decreased 0.6%.

In corporate news, UnitedHealth (UNH) sold an interest in some of its Optum Health operations in Florida to TPG (TPG), Bloomberg reported. UnitedHealth shares were down 1.8%.

Evommune's (EVMN) phase 2b trial of EVO756 to treat adults with moderate-to-severe atopic dermatitis didn't meet its primary and secondary endpoints in any of the doses studied, the company said. Its shares fell past 16%.

Rezolute (RZLT) said Wednesday that the US Food and Drug Administration is still reviewing data from a phase 3 study of ersodetug for the potential treatment of hypoglycemia due to congenital hyperinsulinism. The company said it does not have a specific timeline on when it will receive feedback or guidance from the FDA on potential next steps. Rezolute shares were down past 7%.

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Sector Update: Financial Stocks Fall Tuesday

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