Health care stocks were lower Tuesday afternoon, with the NYSE Health Care Index falling 2.6% and the Health Care Select Sector SPDR Fund (XLV) dropping 2.3%.
The iShares Biotechnology ETF (IBB) shed 1.5%.
In corporate news, UnitedHealth (UNH) suspended its full-year outlook amid higher-than-expected medical costs, while Andrew Witty stepped down as chief executive due to "personal reasons." UnitedHealth shares fell more than 16%.
Alumis (ALMS) shares fell past 8%. Shareholders of Alumis and
Acelyrin (SLRN) separately approved their merger deal at special meetings. Acelyrin shares also fell over 9%.
CNS Pharmaceuticals (CNSP) shares jumped 35% after the company said it has acquired from Cortice Biosciences an orphan drug designation for late-stage abeotaxane TPI 287 as a potential treatment for glioblastoma multiforme.
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