03:58 PM EDT, 05/09/2025 (MT Newswires) -- Health care stocks declined late Friday afternoon, with the NYSE Health Care Index down 0.5% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.6%.

The iShares Biotechnology ETF (IBB) fell 1.6%.

In corporate news, Insulet ( PODD ) shares jumped nearly 21%. The company late Thursday raised its full-year constant currency revenue growth outlook following a quarterly sales beat.

SRx Health Solutions ( SRXH ) surged 32% after the company said it intends to form a subsidiary to borrow cryptocurrencies, like Bitcoin, against its Halo assets.

Apellis Pharmaceuticals ( APLS ) shares were falling nearly 3%. The company has had a difficult Q1 as charitable foundation funding gaps and weaker-than-expected Syfovre sales weigh on the outlook, BofA Securities said in a report. BofA downgraded the stock to neutral from buy.

Iovance Biotherapeutics ( IOVA ) shares tumbled 43% after it lowered its 2025 product revenue guidance. Its Q1 results also missed estimates.