03:52 PM EST, 11/04/2024 (MT Newswires) -- Health care stocks fell late Monday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both shedding 0.7%.

The iShares Biotechnology ETF (IBB) rose 0.3%.

In corporate news, Nuwellis ( NUWE ) shares almost doubled after the Centers for Medicare and Medicaid Services almost quintupled the reimbursement rate for the company's Aduadex SmartFlow therapy, effective Jan. 1.

KalVista Pharmaceuticals ( KALV ) shares jumped 11%. The company closed a royalty financing deal with DRI Healthcare Trust for up to $179 million.

BioNTech (BNTX) expects full-year revenue at the low end of guidance due in part to inventory writedowns, even as variant-adapted COVID-19 vaccines helped boost Q3 results. The shares fell 1.7%.

PACS (PACS) shares tumbled 32% following a report by short-seller Hindenburg Research.