03:54 PM EDT, 08/12/2024 (MT Newswires) -- Health care stocks were declining late Monday afternoon, with the NYSE Health Care Index shedding 0.6% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) decreased 0.5%.

In corporate news, Fortrea ( FTRE ) shares dropped nearly 21% after the company swung to a Q2 adjusted loss amid lower revenue.

Greenlane ( GNLN ) shares skyrocketed 693% after it said Monday that it signed a non-binding letter of intent to become the exclusive distributor for Safety Strips' fentanyl, xylazine, and drink-spike detection test strips in the US.

Moderna ( MRNA ) allegedly made false and/or misleading statements and failed to disclose that its mRNA respiratory syncytial virus vaccine was less effective than it had previously led investors to believe, according to a proposed federal class action filed Friday in Massachusetts. Moderna ( MRNA ) shares were falling 4.5%.

Revance Therapeutics ( RVNC ) shares soared 86% after the company said it has agreed to be acquired by Crown Laboratories for $924 million.