The Nasdaq Biotechnology index, however, was rising 0.3%, reversing its midday decline.
In company news, Genmab (GMAB) was inching narrowly higher, rebounding from a nearly 1% slide earlier Monday followed a Guggenheim downgrade of the Danish oncology company to neutral from buy.
Applied Therapeutics (APLT) slumped Monday, at one point sinking almost 33% to a record low of $5.99 a share, after saying it placed a hold on the new drug application for its AT-007 drug candidate to treat galactosemia following discussions with the US Food and Drug Administration late last month. AT-007 currently is currently in a phase III trial.
Genprex (GNPX) was rising 164% just ahead of Monday's close, after the FDA issued a fast-track designation for a combination of its Reqorsa immunogene therapy and Merck's (MRK) Keytruda as a potential treatment for patients with unresectable stage three or stage four non-small cell lung cancer after preclinical data showed Reqorsa increased the presence of natural killer cells. The agency previously issued a fast-track designation for a combination of Reqorsa with AstraZeneca's (AZN) Tagrisso cancer medication.
Immix Biopharma (IMMX) earlier more than doubled in price on Monday, earlier rising 144% to a post-IPO high of $8.68 a share, after the US Food and Drug Administration granted a rare pediatric disease designation for IMX-110 drug candidate to treat rhabdomyosarcoma in children. The prospective cancer medication is currently in phase Ib/IIa testing.