The Nasdaq Biotechnology index was dropping 0.2%.
In company news, BioMarin Pharmaceutical (BMRN) dropped 8.5% after saying the US Food and Drug Administration placed a clinical hold on phase I/II testing of its BMN 307 gene therapy candidate in adults with phenylketonuria after pre-clinical data showed mice treated with the highest dose of BMN 307 had liver tumors after 52 weeks.
Forward Pharma (FWP) shares dropped nearly 19% after the Danish drug maker said the European Patent Office dismissed its appeal of the agency's decision to revoke the EP2801355 patent for its multiple sclerosis medication.
CorMedix Inc. (CRMD) tumbled over 24% after the biopharmaceuticals company said facility deficiencies at the contract manufacturer for its DefenCath antibacterial and antifungal investigational medication will indefinitely delay the resubmission of the new drug application for the prospective treatment for catheter-related bloodstream infections. The facility issues are unrelated to DefenCath, CorMedix said, adding it will provide an update when more information become available.
To the upside, RenovoRX (RNXT) raced more than 21% higher after the company Tuesday secured 510(k) clearance from the US Food and Drug Administration for its RenovoCath dual-balloon infusion catheter system delivering the company's RenovoGem chemotherapy directly to tumors via the patient's arteries.
|LiveOne Completes Acquisition of Gramophone Media|
|Athene Holding to Buy Majority Stake in Newfi for Un...|
|DraftKings, Polygon Enter Into Blockchain Agreement|
|--JMP Securities Initiates Remitly Global at Market ...|
|Fiserv to Acquire Restaurant Commerce Platform Provi...|