01:38 PM EDT, 05/02/2024 (MT Newswires) -- Health care stocks were declining Thursday afternoon, with the NYSE Health Care Index shedding 0.6% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) rose 1.2%.

In corporate news, Moderna ( MRNA ) on Thursday reported a smaller-than-expected loss for Q1, while it affirmed its full-year revenue outlook. Its shares surged past 12%.