Sector Update: Health Care Stocks Ease Thursday Afternoon

Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index decreasing 0.2% and the Health Care Select Sector SPDR Fund (XLV) fractionally lower.

The iShares Biotechnology ETF (IBB) was down 0.2%.

In corporate news, Biogen BIIB and Ionis Pharmaceuticals IONS said they would cease development of BIIB105 after a phase 1/2 study showed the investigational ALS drug did not slow disease progression. Biogen shares dropped 2.6% and Ionis tumbled almost 6%.

Trupanion TRUP shares climbed nearly 21% as BofA Securities upgraded the company to buy from neutral.

Oragenics OGEN said Thursday that it is preparing to start a phase 2 trial for its potential intranasal treatment for concussion, ONP-002. Its shares rose nearly 2%.