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Sector Update: Healthcare Stocks Decline Friday Afternoon

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Healthcare stocks were lower Friday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 1.1%.

The iShares Biotechnology ETF (IBB) was down 1%.

In corporate news, Bristol Myers Squibb (BMY) told regulators, researchers and patient groups in early June that it had paused trials of its CAR-T treatment zola-cel in autoimmune disorders over potentially life-threatening side effects, The Wall Street Journal reported. Bristol Myers Squibb shares were falling 2.2%.

Novo Nordisk's (NVO) charitable foundation and its Quantum Foundry Copenhagen company are planning to set up a new 5,300 square meter quantum chip production facility in Copenhagen, the organizations said. Novo shares were down 2.1%.

Intellia Therapeutics (NTLA) shares added 0.8% after it said Friday it entered a $400 million non-dilutive senior secured term loan facility with OrbiMed to support clinical and commercial milestones.

Immuron (IMRN) shares surged 41% after the company announced Friday an exclusive distribution agreement for Probis in the US with Calmino.

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Sector Update: Financial Stocks Gain Late Afternoon

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Sector Update: Energy Stocks Decline Late Afternoon

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