---
title: "Sector Update: Health Care Stocks Softer Late Afternoon"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285605494.md"
description: "Health care stocks experienced a decline late Thursday, with the NYSE Health Care Index down 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.7%. Notably, Entrada Therapeutics (TRDA) shares plummeted 57% due to disappointing trial results for a drug aimed at Duchenne muscular dystrophy. Iovance Biotherapeutics (IOVA) shares fell over 13% after a narrower-than-expected Q1 loss and missed revenue estimates. Harmony Biosciences (HRMY) shares dropped 5.5% following disappointing Q1 earnings. Conversely, Catalyst Pharmaceuticals (CPRX) shares rose 2.1% after announcing an acquisition by Angelini Pharma valued at approximately $4.1 billion."
datetime: "2026-05-07T19:44:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285605494.md)
  - [en](https://longbridge.com/en/news/285605494.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285605494.md)
---

# Sector Update: Health Care Stocks Softer Late Afternoon

03:44 PM EDT, 05/07/2026 (MT Newswires) -- Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index decreasing 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.

The iShares Biotechnology ETF (IBB) dropped 2.2%.

In corporate news, Entrada Therapeutics ( TRDA ) shares tumbled 57% after its drug for children with Duchenne muscular dystrophy fell short of analyst expectations in an early-to-mid stage trial, Reuters reported Thursday.

Iovance Biotherapeutics ( IOVA ) shares fell past 13% after the company's Q1 loss narrowed less than expected and revenue missed estimates.

Harmony Biosciences ( HRMY ) shares dropped 5.5% after the company's Q1 earnings and revenue fell short of analysts' estimates.

Catalyst Pharmaceuticals ( CPRX ) shares rose 2.1% after the company agreed to be acquired by Angelini Pharma in a deal with an equity value of about $4.1 billion. The company also said it has reached a settlement agreement with Hetero Labs to resolve patent litigation regarding a proposed generic version of Firdapse.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

### Related Stocks

- [TRDA.US](https://longbridge.com/en/quote/TRDA.US.md)
- [CPRX.US](https://longbridge.com/en/quote/CPRX.US.md)
- [HRMY.US](https://longbridge.com/en/quote/HRMY.US.md)
- [XLV.US](https://longbridge.com/en/quote/XLV.US.md)
- [IBB.US](https://longbridge.com/en/quote/IBB.US.md)
- [IOVA.US](https://longbridge.com/en/quote/IOVA.US.md)

## Related News & Research

- [Entrada Therapeutics Highlights Transformational Year and Pipeline Progress](https://longbridge.com/en/news/286898145.md)
- [Entrada Therapeutics updates corporate presentation, cites DMD Cohort 1 safety and functional gains; Cohort 2/45 data due 2026](https://longbridge.com/en/news/286891476.md)
- [Angelini Buyout And Firdapse Settlement Reframe Catalyst Pharmaceuticals Story](https://longbridge.com/en/news/286669201.md)
- [22:30 ETINVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Entrada Therapeutics, Inc. - TRDA](https://longbridge.com/en/news/286497157.md)
- [EagleRock Land Nets $333 Million From Class A Share Offering Priced at $18.50](https://longbridge.com/en/news/286969275.md)