01:52 PM EDT, 03/26/2025 (MT Newswires) -- Health care stocks fell Wednesday afternoon, with the NYSE Health Care Index down 0.5% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) declined 1.5%.

In corporate news, Jaguar Health ( JAGX ) shares fell more than 6% after the company signed securities purchase agreements to issue up to nearly $3.5 million in convertible promissory notes to Chief Executive Officer Lisa Conte, three board members, seven other senior executives and selected investors.

Atea Pharmaceuticals ( AVIR ) shareholder Radoff-JEC Group said in an open letter Wednesday that it plans to nominate three directors at the company's annual general meeting as it raised concerns about Atea's stock price performance, strategy and governance practices. Atea shares were down 0.6%.

Wave Life Sciences ( WVE ) shares jumped past 6% after the company reported "positive" 48-week data from a phase 2 trial of its WVE-N531 drug candidate in boys with Duchenne muscular dystrophy.