Health care stocks fell Thursday afternoon with the NYSE Health Care Index shedding 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.
The iShares Biotechnology ETF (IBB) was slightly up.
In corporate news, Elevance Health (ELV) slashed its full-year earnings outlook as the insurer's Q3 profit missed expectations amid challenges in the Medicaid business. The shares slumped more than 12%.
Tonix Pharmaceuticals (TNXP) shares surged more than 24% after the company said it received its first payment from the Defense Department's Defense Threat Reduction Agency.
Amicus Therapeutics (FOLD) shares jumped over 14% after the company said it agreed to settle its patent litigation against Teva Pharmaceuticals (TEVA). Teva shares were shedding 0.3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.