04:08 PM EDT, 06/27/2024 (MT Newswires) -- Health care stocks declined late Thursday afternoon with the NYSE Health Care Index down 0.3% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.2%.

The iShares Biotechnology ETF (IBB) was fractionally lower.

In corporate news, NLS Pharmaceutics ( NLSP ) shares surged more than 25% Thursday after preclinical results from in vitro studies targeting alpha-synuclein, specifically the A53T mutation, showed the compounds' potential to treat Parkinson's disease.

Elanco Animal Health ( ELAN ) shares sank nearly 21% after the company said it expects to launch Zenrelia in Q4, but with a warning label.

Walgreens Boots Alliance ( WBA ) slashed its full-year earnings outlook amid "challenging" trends in the pharmacy industry and a worsening retail environment. Its shares plunged past 22%.

AbbVie ( ABBV ) said Thursday it has acquired privately held biotech company Celsius Therapeutics for $250 million in cash. AbbVie ( ABBV ) shares were falling 1.3%.