03:46 PM EDT, 10/23/2024 (MT Newswires) -- Health care stocks fell late Wednesday afternoon with the NYSE Health Care Index shedding 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.6%.

The iShares Biotechnology ETF (IBB) dropped 1.3%.

In corporate news, Tevogen Bio ( TVGN ) shares surged 52%. The company said its artificial intelligence project Tevogen AI joined the Microsoft ( MSFT ) for Startups program.

Alto Neuroscience ( ANRO ) shares plunged nearly 70% after the company said late Tuesday that a phase 2b trial of ALTO-100 in people with major depressive disorder didn't meet the primary endpoint compared with a placebo.

Calidi Biotherapeutics ( CLDI ) shares sank 23% after the company said it priced a registered direct offering and simultaneous private placement.

Lumos Pharma ( LUMO ) shares jumped past 10% after the company agreed to be bought by a unit of Double Point Ventures.