Sector Update: Healthcare Stocks Decline Late Afternoon
Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index falling 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) 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%.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 2.2%.Immuron (IMRN) shares surged 57% after it said Friday it has signed an exclusive distribution agreement with Sweden's Calmino Group to launch PROIBS, a digestive-health medical device used for abdominal pain and bloating.Tarsus Pharmaceuticals (TARS) shares rose past 9% after the company said it has completed its acquisition of retinal disease-focused biotech Alkeus Pharmaceuticals.
