Sector Update: Health Care Stocks Slide Late Afternoon

MT Newswires Live05:01

Health care stocks fell late Friday afternoon with the NYSE Health Care Index declining 1.7% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.8%.

The iShares Biotechnology ETF (IBB) slumped 4.7%.

In corporate news, Eyenovia (EYEN) shares plunged 69%. A phase 3 study evaluating the drug-device combination of low-dose atropine in the company's Optejet dispensing platform for pediatric progressive myopia didn't meet the primary endpoint. Eyenovia also is considering options including a business combination, reverse merger or asset sales.

Bluebird Bio (BLUE) shares sank 11% after BofA Securities downgraded the company's stock to neutral from buy.

Halozyme Therapeutics (HALO) offered to buy German drugmaker Evotec (EVO) for 2 billion euros ($2.11 billion). Halozyme shares tumbled 15%, and Evotec jumped past 6%.

CERo Therapeutics (CERO) shares surged 52%. The US Food and Drug Administration cleared the company's investigational new drug application for a phase 1 trial of its lead compound CER-1236 to treat acute myelogenous leukemia.

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