04:03 PM EDT, 06/13/2024 (MT Newswires) -- Health care stocks were decreasing late Thursday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each around 0.1% softer.

The iShares Biotechnology ETF (IBB) fell 0.4%.

In corporate news, American Well ( AMWL ) shares fell about 3%. The company said co-founder Roy Schoenberg is transitioning to become executive vice chairman from his role as president and co-chief executive officer.

Vanda Pharmaceuticals ( VNDA ) shares surged 10% after the company received a revised unsolicited acquisition proposal of $8.50 to $9 a share in cash, plus certain contingent value rights, from Future Pak.

UroGen Pharma ( URGN ) shares soared about 37% after the company announced an "unprecedented" 82.3% duration of response at 12 months for UGN-102 to treat a type of bladder cancer.

Cardiol Therapeutics ( CRDL ) shares plunged 19% after the company reported eight-week phase 2 data for CardiolRx to treat patients with symptomatic recurrent pericarditis.