Dow Surges Over 50 Points; Avalo Therapeutics Shares Plummet
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed with the Dow Jones gaining over 50 points, while NASDAQ and S&P 500 fell. Energy shares jumped by 2.2% and communication services shares dipped by 1.4%. TRxADE HEALTH, MoonLake Immunotherapeutics, and Benitec Biopharma saw significant gains, while Avalo Therapeutics, FibroGen, and Biomea Fusion experienced declines.
June 26, 2023 | 7:21 pm
News sentiment analysis
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POSITIVE IMPACT
Benitec Biopharma shares gained 101% after the company announced it received FDA clearance of the IND for BB-301 for the treatment of Oculopharyngeal Muscular Dystrophy.
Benitec Biopharma's stock price is likely to be positively impacted in the short term due to the announcement of FDA clearance of the IND for BB-301 for the treatment of Oculopharyngeal Muscular Dystrophy.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
TRxADE HEALTH shares shot up 83% after issuing a correction to a press release announcing its anticipated combination with Superlatus, Inc.
TRxADE HEALTH's stock price is likely to be positively impacted in the short term due to the correction to a press release announcing its anticipated combination with Superlatus, Inc.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
MoonLake Immunotherapeutics shares shot up 74% after the company's Phase 2 study for Nanobody sonelokimab met its primary endpoint in hidradenitis suppurativa.
MoonLake Immunotherapeutics' stock price is likely to be positively impacted in the short term due to the success of its Phase 2 study for Nanobody sonelokimab meeting its primary endpoint in hidradenitis suppurativa.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Avalo Therapeutics shares dropped 88% after its Phase 2 Peak trial for quisovalimab in non-eosinophilic asthma patients missed its primary endpoint.
Avalo Therapeutics' stock price is likely to be negatively impacted in the short term due to the failure of its Phase 2 Peak trial for quisovalimab to meet its primary endpoint.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Biomea Fusion shares fell 16% after announcing new clinical data from the first two cohorts of Phase 2 portion of its ongoing Phase 1/2 study of BMF-219 in type 2 diabetes patients.
Biomea Fusion's stock price is likely to be negatively impacted in the short term due to the announcement of new clinical data from the first two cohorts of Phase 2 portion of its ongoing Phase 1/2 study of BMF-219 in type 2 diabetes patients.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
FibroGen shares were down 83% after the company's Phase 3 ZEPHYRUS-1 trial of pamrevlumab failed to meet its primary endpoint in idiopathic pulmonary fibrosis patients.
FibroGen's stock price is likely to be negatively impacted in the short term due to the failure of its Phase 3 ZEPHYRUS-1 trial of pamrevlumab to meet its primary endpoint in idiopathic pulmonary fibrosis patients.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100