03:47 PM EST, 12/11/2024 (MT Newswires) -- Health care stocks declined late Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each dropping 1%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, AnaptysBio ( ANAB ) shares sank 33% after the company said it would discontinue further investment in experimental therapy ANB032 after a phase 2b trial in moderate-to-severe atopic dermatitis or eczema didn't meet the primary and secondary endpoints.

Candel Therapeutics ( CADL ) surged 73% after it said a phase 3 trial of CAN-2409 to treat localized prostate cancer met its primary endpoint.

Know Labs ( KNW ) jumped 13% after it said NYSE American accepted its plan to regain compliance with listing rules.

Patterson (PDCO) agreed to be acquired and taken private by Patient Square Capital in a deal worth $4.1 billion, including the refinancing of the dental and animal health equipment distributor's receivables facilities. Patterson shares soared 34%.