03:44 PM EDT, 06/20/2025 (MT Newswires) -- Health care stocks declined late Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both shedding 0.5%.

The iShares Biotechnology ETF (IBB) decreased 0.3%.

In sector news, US health insurers plan to announce changes aimed at improving the preapproval process for medical care following public criticism after the killing of a UnitedHealth (UNH) executive last year, The Wall Street Journal reported.

In corporate news, SeaStar Medical ( ICU ) shares tumbled 64%. The company priced its offering of shares and warrants to raise up to $8 million, with $4 million expected initially and a potential $4 million via warrant exercises.