The Nasdaq Biotechnology index was easing 0.7%.
In company news, Field Trip Health (FTRP) slipped 1.2% after the psychedelic therapies company overnight reported a wider Q4 net loss than analysts had been expecting and revenue for the three months ended March 31 also lagging Wall Street opinion. The company late Wednesday said it has secured all of the court and regulatory approvals needed to move forward with the planned spinoff and stock distribution for its fledgling clinics business into a stand-alone firm and rebranding its drug-discovery business as Reunion Neuroscience.
Angion Biomedica (ANGN) sank 33% on Thursday, easing slightly from a nearly 40% drop to a record low of $1.03 per share, after overnight saying it was discontinuing phase II testing of its ANG-3070 drug candidate in patients with primary proteinuric kidney diseases following an unexpected and substantial decline in kidney function for a patient in the trial's drug-treatment arm.
Cytokinetics (CYTK) dropped almost 20% after the biopharmaceuticals company overnight disclosed plans for a $450 million private placement of convertible senior notes maturing in July 2027 and using the net proceeds to redeem a portion of its $100 million of 4.00% convertible senior note coming due in 2026 and funding late-stage trials of its aficamten drug candidate in patients with obstructive and non-obstructive hypertrophic cardiomyopathy as well as other clinical programs.
BioNTech (BNTX) rose 5% after the drug maker and Pfizer (PFE) late Wednesday announced a new $3.2 billion agreement to provide 105 million doses of its COVID-19 vaccine to the US government. The deal also includes an option for the government to buy up to 195 million additional doses. Pfizer shares rose 3.1% this afternoon.
|--Raymond James Adjusts Open Lending's Price Target ...|
|--JPMorgan Raises Hannon Armstrong Sustainable Infra...|
|--JPMorgan Raises Sunrun's Price Target to $65 From ...|
|--Barrington Research Downgrades Warner Bros. Discov...|
|--Noble Capital Downgrades Coeur Mining to Market Pe...|