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Sector Update: Healthcare Stocks Softer Late Afternoon

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Healthcare stocks were lower late Wednesday afternoon with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 0.2%.

The iShares Biotechnology ETF (IBB) declined 0.8%.

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 2.2%.

Agilent Technologies (A) shares fell 1.2% after UBS downgraded the stock to neutral from buy.

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%.

Opus Genetics (IRD) shares jumped 35% after it said that patients with Bestrophin-1-related retinal diseases showed clinically meaningful improvement in visual function in the low-dose cohort 1 of its BIRD-1 phase 1/2 trial evaluating OPGx-BEST1.

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