04:06 PM EDT, 08/02/2024 (MT Newswires) -- Health care stocks were retreating in late Friday afternoon trading, with the NYSE Health Care Index shedding 0.6% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) dropped 2%.

In corporate news, VSee Health ( VSEE ) shares surged 75%, a day after the company signed a deal with Ava Robotics to develop telepresence solutions for the inpatient intensive care market.

23andMe (ME) shares edged down 0.3%. A special committee of its board declined Co-Founder, Chair and Chief Executive Anne Wojcicki's indication of interest to buy the company's shares for $0.40 per share of class A stock or class B stock.

Takeda Pharmaceutical ( TAK ) shares added 1.7%. The company plans to cut about 1,000 jobs across the US, including the closure of its research and development hub in San Diego, by the end of September, Nikkei Asia reported.

Tandem Diabetes Care ( TNDM ) shares jumped 18% after the company reported Q2 results above market expectations and raised its sales guidance for 2024.