01:56 PM EDT, 03/12/2025 (MT Newswires) -- Health care stocks were slipping Wednesday afternoon, with the NYSE Health Care Index falling 7% and the Health Care Select Sector SPDR Fund (XLV) down 0.6%.

The iShares Biotechnology ETF (IBB) rose 0.3%.

In corporate news, Zevra Therapeutics ( ZVRA ) shares fell past 6% after it reported a Q4 net loss late Tuesday of $0.67 per share, wider than a loss of $0.51 a year earlier. Analysts polled by FactSet expected a loss of $0.38.

Geron ( GERN ) shares surged past 8%. The company said after hours that European regulators have approved its drug candidate Rytelo as a monotherapy to treat adult patients with transfusion-dependent anemia resulting from certain types of lower-risk myelodysplastic syndromes.

Alpha Teknova ( TKNO ) shares jumped 4.4% after the company and Pluristyx said late Tuesday they're collaborating to produce and commercialize the latter's PluriFreeze product line, a cryopreservative and cell wash media system for allogeneic cell therapies.