03:59 PM EDT, 04/03/2025 (MT Newswires) -- Health care stocks fell late Thursday afternoon with the NYSE Health Care Index down 0.4% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.7%.

The iShares Biotechnology ETF (IBB) fell 2.2%.

In sector news, small to mid-cap biotech companies may see macro headwinds through the year with tariff concerns and turnover at the US Food and Drug Administration fueling uncertainty, BofA Securities said.

In corporate news, Aldeyra Therapeutics ( ALDX ) shares plunged 74%. The company plans to resubmit its new drug application for reproxalap after the US Food and Drug Administration said in a complete response letter that the NDA "failed to demonstrate efficacy in adequate and well controlled studies in treating ocular symptoms associated with dry eyes."

Sarepta Therapeutics ( SRPT ) shares fell 6.3% after media reports said the European Medicines Agency placed a temporary hold on enrollment and dosing in multiple trials of the company's gene therapy Elevidys for Duchenne muscular dystrophy.

RxSight ( RXST ) shares dropped 37% after the company lowered 2025 revenue guidance range to the range of $160 million to $175 million from $185 million to $197 million.

Edgewise Therapeutics ( EWTX ) management believes that atrial fibrillation reported by some patients in a phase 2 study was not driven by EDG-7500 because there is no correlation between the cases and higher exposure to the drug, RBC Capital Markets said Wednesday. Edgewise shares fell 13%.