03:43 PM EDT, 04/03/2025 (MT Newswires) -- Health care stocks fell late Thursday afternoon with the NYSE Health Care Index down 0.2% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.6%.

The iShares Biotechnology ETF (IBB) fell 2.2%.

In sector news, small to mid-cap biotech companies may macro headwinds through the year with tariff concerns and turnover at the US Food and Drug Administration fueling uncertainty, BofA Securities said.

In corporate news, Aldeyra Therapeutics ( ALDX ) shares plunged 74%. The company plans to resubmit its new drug application for reproxalap after the US Food and Drug Administration said in a complete response letter that the NDA "failed to demonstrate efficacy in adequate and well controlled studies in treating ocular symptoms associated with dry eyes."