-- Health care stocks were lower Wednesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding about 0.9%.
The iShares Biotechnology ETF (IBB) decreased 0.4%.
In corporate news, Janux Therapeutics (JANX) lacks near-term stock-moving catalysts after it came under pressure following mixed results from the phase 1a trial of JANX007 in 5L metastatic prostate cancer, UBS said in a report. UBS downgraded the stock to neutral from buy and cut its price target to $15 from $57. Janux shares fell 2.9%.
GoodRx (GDRX) shares climbed up 3.8% after the firm said Wednesday it is offering Novo Nordisk's (NVO) Wegovy HD 7.2 mg injectable weight loss drug to eligible self-pay patients. Novo shares rose 2.2%.
Immutep (IMMP) shares doubled after the firm said the US Food and Drug Administration has granted orphan drug designation to eftilagimod alfa to treat soft tissue sarcoma, a rare cancer.