Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index adding 0.5% and the Health Care Select Sector SPDR Fund (XLV) up 0.3%.

The iShares Biotechnology ETF (IBB) was marginally higher.

In corporate news, Pulse Biosciences (PLSE) shares jumped nearly 12% after board Co-Chair Robert Duggan, the controlling stockholder, informed management he may increase his stake in the company.

Spectral AI (MDAI) shares surged past 19%. The company said Tuesday it has repriced about 8.4 million warrants with an exercise price of $11.50 per share to $2.75 per share, effective following its 20-day notice requirement.

Arrowhead Pharmaceuticals (ARWR) shares popped 12%. The company signed a global licensing and partnership agreement with Sarepta Therapeutics (SRPT) to develop new therapies for genetic diseases of the muscle, central nervous system and lungs. Sarepta shares climbed 12%.

Amgen (AMGN) shares tumbled 5.8%. The company said a phase 2 trial showed that its investigational obesity drug MariTide demonstrated up to 20% average weight loss after a year in people living with obesity or overweight without type 2 diabetes. Mizuho said in a note that this efficacy is "on the low end of expectations."