-- Health care stocks declined Thursday afternoon with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 0.7%.
The iShares Biotechnology ETF (IBB) dropped 2.6%.
In corporate news, 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% after the company's Q1 earnings and revenue fell short of analysts' estimates.
Catalyst Pharmaceuticals (CPRX) shares rose 2.2% 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.