The Nasdaq Biotechnology index also was sinking 2.4%.
In company news, Roivant Sciences (ROIV) declined 0.3% Tuesday after the UK-based drug maker announced the launch of Priovant, a new biopharmaceuticals company formed with 25% partner Pfizer (PFE) to develop new therapies for autoimmune diseases. Roivant also reported a Q4 net loss of $0.39 per share, more than halving its $0.80 per share loss during the year-ago period but missing the Capital IQ consensus expecting a $0.30 per share loss as revenue fell 39.1% year-over-year to $9.22 million, also trailing the $11.57 million analyst mean for the quarter.
Evofem Biosciences (EVFM) fell 4.7%, reversing a more than 40% gain that followed the company announcing an agreement with one of the largest pharmacy benefit managers in the US ensuring most women covered by the plan can fill their Phexxi prescriptions for pregnancy prevention without restrictions such as prior authorization or step therapy.
Kezar Life Sciences (KZR) soared over 44% after late Monday reporting positive topline results from phase II testing of its zetomipzomib drug candidate, with six of 17 patients with active lupus nephritis achieving a complete renal response and the other 11 patients showing at least a 50% reduction in the protein-to-creatinine ratio in their urine after six months.
|Insider Sell: Constellation Brands|
|Insider Sell: Compass|
|Insider Sell: Symbotic|
|Insider Buy: Marpai|
|Insider Sell: Semrush Holdings|