03:45 PM EDT, 06/02/2026 (MT Newswires) -- Healthcare stocks declined late Tuesday afternoon, with the NYSE Healthcare Index decreasing 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.9%.

The iShares Biotechnology ETF (IBB) dropped 2.9%.

In corporate news, Vera Therapeutics ( VERA ) said Tuesday it aligned with the US Food and Drug Administration on a revised analysis plan for its phase 3 Origin trial of atacicept in adults with IgA nephropathy. Its shares fell past 7%.

Abivax ( ABVX ) faces an increasing risk of black box warning for obefazimod due to malignancies reported from a recent trial, Wedbush Securities said in a note. Abivax ( ABVX ) shares fell 43%.

Heron Therapeutics ( HRTX ) shares dropped 42% after the company said the US District Court for the District of Delaware has ruled that claims in two of its Cinvanti injectable emulsion patents are invalid.

Praxis Precision Medicines' ( PRAX ) shares lost 20% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.