01:53 PM EDT, 05/17/2024 (MT Newswires) -- Health care stocks eased Friday afternoon with the NYSE Health Care Index down 0.1% and the Health Care Select Sector SPDR Fund (XLV) marginally higher.

The iShares Biotechnology ETF (IBB) fell 0.3%.

In corporate news, Moderna ( MRNA ) won a favorable decision in its Covid-19 vaccine dispute with Pfizer ( PFE ) and BioNTech (BNTX) from the European Patent Office's Opposition Division, upholding the validity of one of two disputed patents, the Financial Times reported. Moderna ( MRNA ) shares gained 0.5%, Pfizer ( PFE ) fell 1% and BioNTech dropped 0.7%.

Arbutus Biopharma ( ABUS ) shareholder Whitefort Capital Management issued an open letter to shareholders Friday urging the company to stop further share issuances and explore strategic alternatives for its hepatitis B portfolio. Arbutus shares popped 3.5%.

Doximity ( DOCS ) shares surged 17% after Truist Securities raised the company's price target following its fiscal Q4 results.