-- Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index decreasing 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.
The iShares Biotechnology ETF (IBB) dropped 2.2%.
In corporate news, Entrada Therapeutics (TRDA) shares tumbled 57% after its drug for children with Duchenne muscular dystrophy fell short of analyst expectations in an early-to-mid stage trial, Reuters reported Thursday.
Iovance Biotherapeutics (IOVA) shares fell past 13% after the company's Q1 loss narrowed less than expected and revenue missed estimates.
Harmony Biosciences (HRMY) shares dropped 5.5% after the company's Q1 earnings and revenue fell short of analysts' estimates.
Catalyst Pharmaceuticals (CPRX) shares rose 2.1% after the company agreed to be acquired by Angelini Pharma in a deal with an equity value of about $4.1 billion. The company also said it has reached a settlement agreement with Hetero Labs to resolve patent litigation regarding a proposed generic version of Firdapse.