Sector Update: Healthcare Stocks Decline Late Afternoon

04:06 PM EDT, 08/28/2026 (MT Newswires) -- Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding about 0.4%. The iShares Biotechnology ETF (IBB) fell 2.7%. In corporate news, BioNTech (BNTX) said it terminated its phase 2 trial evaluating autogene cevumeran as an adjuvant monotherapy in people with colorectal cancer. The trial's independent safety board recommended discontinuing treatment and ending the trial, as further continuation was unlikely to change the efficacy outcome, the company said. Shares fell 8%. Eli Lilly (LLY) said the US Food and Drug Administration approved Mounjaro to lower the risk of major adverse cardiovascular events in adults with type 2 diabetes who are at high risk for those events. Lilly shares were down 0.9%. 10x Genomics (TXG) said a Delaware federal jury awarded the company more than $4.8 million after finding that three patents held through its Scale Biosciences unit were infringed by Parse Biosciences, a subsidiary of Qiagen (QGEN). 10x Genomics shares were down 5.2%, and Qiagen was shedding 1.3%. Quoin Pharmaceuticals (QNRX) reported "positive" interim data from its ongoing phase 2/3 study of QRX003 in patients with netherton syndrome, and also a private placement financing of up to $50.0 million. Shares surged 18%.