02:02 PM EDT, 06/13/2024 (MT Newswires) -- Health care stocks fell Thursday afternoon with the NYSE Health Care Index down 0.5% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.3%.

The iShares Biotechnology ETF (IBB) fell 0.4%.

In corporate news, Vanda Pharmaceuticals ( VNDA ) shares surged 10% after the company received a revised unsolicited acquisition proposal of $8.50 to $9 a share in cash, plus certain contingent value rights, from Future Pak.

UroGen Pharma ( URGN ) shares soared 41% after the company announced an "unprecedented" 82.3% duration of response at 12 months for UGN-102, or mitomycin, to treat patients with a type of bladder cancer.

Cardiol Therapeutics ( CRDL ) shares fell 15% after the company reported eight-week phase 2 clinical data for CardiolRx to treat patients with symptomatic recurrent pericarditis.