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Sector Update: Health Care Stocks Softer Late Afternoon
2024-09-05 03:57
03:57 PM EDT, 09/04/2024 (MT Newswires) -- Health care stocks fell late Wednesday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both shedding 0.3%.
The iShares Biotechnology ETF (IBB) eased 0.1%.
In corporate news, Myriad Genetics (MYGN) shares dropped 7.8% after the company said it's discontinuing the analysis of hospital resource utilization and costs of patients getting GeneSight testing compared with a control group due to significant disparities between groups.
Johnson & Johnson (JNJ) was ordered to pay $1 billion in damages for breaching its pledge to prioritize two surgical robots it acquired when it purchased Auris Health. Johnson & Johnson shares were little changed.
Atara Biotherapeutics (ATRA) shares surged 33%, a day after the company agreed to sell 758,900 shares and pre-funded warrants to investors in a direct offering to raise $36 million.
Athira Pharma (ATHA) shares plunged 78%, a day after the company said its phase 2/3 trial of fosgonimeton in people with mild-to-moderate Alzheimer's disease failed to achieve the primary and key secondary endpoints.
