03:30 PM EDT, 07/18/2024 (MT Newswires) -- Health care stocks were retreating late Thursday afternoon with the NYSE Health Care Index falling 2.5% and the Health Care Select Sector SPDR Fund (XLV) dropping 2.3%.

The iShares Biotechnology ETF (IBB) shed 1.7%.

In corporate news, Cassava Sciences ( SAVA ) shares jumped 6% after the Delaware Court of Chancery scheduled a hearing to dismiss a lawsuit against the company's officers.