Sector Update: Healthcare Stocks Softer Late Afternoon

03:56 PM EDT, 10/16/2026 (MT Newswires) -- Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index down 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.4%. The iShares Biotechnology ETF (IBB) dropped 2.6%. In corporate news, Omeros (OMER) shares fell past 14% in Friday trading after the EU's Committee for Medicinal Products for Human Use again rejected the company's application to market narsoplimab for a rare blood complication that follows stem cell transplants. Erasca (ERAS) shares fell past 9% after the company said Chief Operating Officer Nicholas Chetwyn will depart, effective Nov. 2. The move is part of efforts to streamline its reporting structure and realign leadership roles. City Therapeutics (CTY) shares surged 21% in Friday trading after the stock marked its Nasdaq debut at higher than the $18-per-share IPO price. Iambic Therapeutics (IAM) shares jumped 18%, a day after the company made its debut on Nasdaq with an initial public offering of $16 per share. MDxHealth (MDXH) shares dropped 66% after it suspended its full-year 2026 revenue guidance after preliminary Q3 revenue fell short of expectations, citing unexpected turnover among sales staff following the discontinuation of its Resolve mdx business.