03:52 PM EST, 01/22/2025 (MT Newswires) -- Health care stocks eased late Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both decreasing 0.3%.

The iShares Biotechnology ETF (IBB) gained 0.1%.

In corporate news, ALX Oncology ( ALXO ) shares jumped 8.8%. The company appointed Harish Shantharam as chief financial officer to succeed Shelly Pinto.

Clearside Biomedical ( CLSD ) said its China-based partner, Arctic Vision, received regulatory approvals in Australia and Singapore for Arcatus, an injection to treat uveitic macular edema. Clearside shares rose 4.1%.

Abbott Laboratories ( ABT ) reported slower-than-expected Q4 revenue growth, while forecasting acceleration in 2025 on an organic basis. The shares rose 1.2%.

Johnson & Johnson's ( JNJ ) Q4 results topped market expectations, while the company anticipates results in 2025 to rise from the previous year. The shares fell 2.1%.