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Sector Update: Healthcare Stocks Softer Late Afternoon

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Healthcare stocks decreased late Monday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each fractionally lower.

The iShares Biotechnology ETF (IBB) shed 0.4%.

In corporate news, Personalis (PSNL) shares fell past 7% after Craig-Hallum downgraded the stock to hold from buy.

Biomea Fusion (BMEA) shares surged past 18% after the company said it has completed enrollment in a phase 2 trial of icovamenib in insulin-deficient Type 2 diabetes patients.

Eli Lilly (LLY) has launched its Foundayo weight-loss pill in the UK, making Britain the first European country where the oral treatment is available, news outlets reported Monday, citing a company statement. Lilly shares were down 0.5%.

Capricor Therapeutics (CAPR) said Monday the US Food and Drug Administration has extended the target action date for its biologics license application for deramiocel as a treatment for Duchenne muscular dystrophy to Nov. 22 from Aug. 22. Capricor shares jumped past 8%.

Regenxbio (RGNX) shares fell more than 23% after the company said it does not plan to resubmit the biologics license application for its investigational gene therapy RGX-121 for Hunter syndrome in the near term following a US Food and Drug Administration clinical hold.

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