US Stocks Fall; Pfizer Swings To Q3 Loss
Portfolio Pulse from Lisa Levin
US stocks traded lower following the release of economic reports. Pfizer Inc reported a Q3 loss with a 42% slump in sales. SciSparc Ltd, Cardio Diagnostics Holdings, and Avalo Therapeutics saw their shares rise after positive news, while Kintara Therapeutics, Galera Therapeutics, and Sarepta Therapeutics saw their shares drop due to negative developments.
October 31, 2023 | 1:52 pm
News sentiment analysis
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NEGATIVE IMPACT
Shares of Galera Therapeutics were down after the company said GRECO-2 trial did not pass futility analysis.
The news that Galera Therapeutics' GRECO-2 trial did not pass futility analysis is negative news that is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Kintara Therapeutics shares dropped after the company announced that its drug VAL-083 did not outperform existing treatments for glioblastoma.
The news that Kintara Therapeutics' drug VAL-083 did not outperform existing treatments is negative news that is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Pfizer reported a Q3 loss with a 42% slump in sales.
Pfizer's reported loss and significant slump in sales is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Sarepta Therapeutics was down after the company said EMBARK did not meet the primary endpoint.
The news that Sarepta Therapeutics' EMBARK did not meet the primary endpoint is negative news that is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Avalo Therapeutics shares were up after the company announced it has completed the divestiture of AVTX-800 Series.
The completion of the divestiture of AVTX-800 Series by Avalo Therapeutics is positive news that is likely to boost its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Cardio Diagnostics Holdings got a boost after the company received an Innovation Technology contract from Vizient for its novel AI-driven precision heart disease tests.
The Innovation Technology contract received by Cardio Diagnostics Holdings is positive news that is likely to boost its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SciSparc Ltd shares shot up after the company announced it received notice of acceptance from the Australian patent office for its patent application.
The acceptance of SciSparc's patent application by the Australian patent office is positive news that is likely to boost its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100