03:51 PM EDT, 10/16/2025 (MT Newswires) -- Health care stocks fell late Thursday afternoon with the NYSE Health Care Index down 0.2% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.3%.

The iShares Biotechnology ETF (IBB) decreased 0.4%.

In corporate news, Hyperfine (HYPR) stock fell 35% after the company priced an underwritten public offering of 14 million Class A shares at $1.25 each to raise $17.5 million.

Mira Pharmaceuticals ( MIRA ) shares surged 52% after it said Thursday that new preclinical data showed that oral administration of marijuana analog Mira-55 provided "superior" pain normalization and significantly reduced inflammation, outperforming injected morphine in an established animal model of inflammatory pain.

Praxis Precision Medicines ( PRAX ) shares soared 175% after the company said two phase 3 trials of its investigational drug ulixacaltamide in essential tremor met primary and secondary endpoints.

Grail (GRAL) shares jumped more than 13% after the company, Samsung C&T, and Samsung Electronics said Thursday they have signed a binding letter of intent for a collaboration to bring Grail's Galleri multi-cancer early detection test to some Asian markets.