Health care stocks fell Monday afternoon, with the NYSE Health Care Index down 0.2% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.1%.

The iShares Biotechnology ETF (IBB) shed 0.3%.

In corporate news, BioNTech (BNTX) shares dropped 2.7% after the company reported an unexpected decline in Q1 sales.

Capricor Therapeutics (CAPR) shares tumbled past 10% after the company said the US Food and Drug Administration plans to hold an advisory committee meeting to review its biologics license application for deramiocel, an investigational cell therapy for treating cardiomyopathy in Duchenne muscular dystrophy patients.

Rezolute (RZLT) shares popped 2.9% after the company said the FDA granted breakthrough therapy designation for ersodetug, an investigational treatment for hypoglycemia caused by tumor hyperinsulinism.