01:12 PM EDT, 09/25/2025 (MT Newswires) -- Health care stocks declined Thursday afternoon, with the NYSE Health Care Index falling 1.8% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.6%.

The iShares Biotechnology ETF (IBB) shed 1.8%.

In corporate news, Harmony Biosciences' ( HRMY ) experimental Fragile X drug ZYN002 failed to meet its goals in a late-stage trial, erasing the opportunity of about $900 million in potential peak US sales, and closing off a path to diversify revenue beyond Wakix, its narcolepsy drug set to lose exclusivity in 2030, Deutsche Bank said Thursday. Deutsche cut Harmony's price target to $36 from $54 and reiterated a buy rating. Harmony shares were down 1.3%.