Health care stocks were down late Tuesday afternoon with the NYSE Health Care Index fractionally lower and the Health Care Select Sector SPDR Fund (XLV) shedding 0.1%.
The iShares Biotechnology ETF (IBB) fell 1.4%.
In corporate news, Travere Therapeutics (TVTX) shares rose 13% after the company said it completed a meeting with the US Food and Drug Administration and plans to submit a supplemental new drug application for approval of Filspari as a potential treatment for focal segmental glomerulosclerosis, a rare kidney disorder.
Firefly Neuroscience (AIFF) shares surged 174% after it said it was accepted into Nvidia's (NVDA) Connect program.
Novartis (NVS) agreed to buy biopharmaceutical firm Anthos Therapeutics for up to $3.1 billion as the Swiss pharmaceutical giant expands its cardiovascular portfolio. Novartis shares added 0.8%.
Lipella Pharmaceuticals (LIPO) shares jumped 35% after it reported positive topline results from a phase 2a trial of LP-310, a liposomal-tacrolimus oral rinse for oral lichen planus.
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.