03:50 PM EDT, 06/16/2025 (MT Newswires) -- Health care stocks declined late Monday afternoon, with the NYSE Health Care Index shedding 0.9% and the Health Care Select Sector SPDR Fund (XLV) down 0.6%.

The iShares Biotechnology ETF (IBB) eased 0.3%.

In corporate news, AbbVie ( ABBV ) said a phase 3 trial assessing venetoclax plus azacitidine to treat newly diagnosed higher-risk myelodysplastic syndrome did not meet the primary endpoint for overall survival. AbbVie ( ABBV ) shares were down 0.3%.

Centessa Pharmaceuticals ( CNTA ) shares rose 2.4% after it received clearance from the US Food and Drug Administration for its investigational new drug application to start a phase 1 trial of ORX142 in healthy participants.

Sarepta Therapeutics ( SRPT ) shares tumbled 42%. Several analysts downgraded the stock after the company temporarily suspended shipments of Elevidys for non-ambulatory patients with Duchenne muscular dystrophy due to a second patient death from acute liver failure.

Supernus Pharmaceuticals ( SUPN ) agreed to buy Sage Therapeutics ( SAGE ) for up to $795 million. Supernus shares rose 1.7%, and Sage surged 35%.