01:46 PM EDT, 09/02/2025 (MT Newswires) -- Health care stocks declined Tuesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each decreasing 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.9%.

In corporate news, Amgen ( AMGN ) shares were down 0.6% after the company said Tuesday that it will invest over $600 million in a new science and innovation center at its headquarters in Thousand Oaks, California.

Zymeworks ( ZYME ) shares dropped 5.4% after it said it decided to voluntarily discontinue the clinical development of ZW171, which was designed to target gynecological, thoracic and digestive system cancers.

Biogen (BIIB) and Stoke Therapeutics ( STOK ) released data from phase 1/2a and open-label extension studies that back the potential for zorevunersen to be the "first" disease-modifying medicine for Dravet syndrome. Biogen shares rose 4%, and Stoke was down 0.2%.