Health care stocks were declining pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.1% lower and the iShares Biotechnology ETF (IBB) down 0.4%.

Biohaven (BHVN) shares were down more than 11% after the company said the phase 2 study evaluating BHV-7000 for the treatment of major depressive disorder failed to meet its primary endpoint.