03:53 PM EDT, 03/25/2025 (MT Newswires) -- Health care stocks fell late Tuesday afternoon with the NYSE Health Care Index dropping 1.7% and the Health Care Select Sector SPDR Fund (XLV) shedding 1.4%.

The iShares Biotechnology ETF (IBB) slumped 2%.

In corporate news, Cassava Sciences ( SAVA ) shares dropped 34% after the company said topline results from a phase 3 trial of simufilam showed no treatment benefit for people with mild-to-moderate Alzheimer's disease.

Mural Oncology ( MURA ) shares fell 62% after the company said it will stop the development of nemvaleukin alfa for platinum-resistant ovarian cancer because a phase 3 trial of the drug combined with Merck's (MRK) Keytruda is "highly unlikely to achieve success" at the final analysis.

23andMe's (ME) customers were asked by New York Attorney General Letitia James to take action for protection of their data as the company goes through bankruptcy, the state prosecutor's office said. 23andMe shares fell 13%.

Alumis ( ALMS ) shares rose 5.7% after the company and Kaken Pharmaceutical said they signed a collaboration and licensing agreement to develop, manufacture, and commercialize ESK-001 for dermatology indications in Japan with an option to expand the license to include rheumatological and gastrointestinal diseases.