May 25, 2021
Many of the major players in biotechnology are seeing their stocks soar or sink ahead of a major cancer conference in the upcoming month. This comes as key participants released data related to the conference. Allogene Therapeutics and Adaptimmune Therapeutics saw their shares rise 11.4% and 8.2% in premarket trading; while Black Diamond Therapeutics stock was off 28.5%. The large market movements came as the results of the efficacy of upcoming drug releases but were based on analysts quickly combing through briefings that will take longer to fully understand. Analysts noted Black Diamond’s drug is in early stages and the data should be interpreted appropriately.
(Boston)
FINSUM + Magnifi: This is a major splash in cancer funds but there are still large movements ahead as the briefings are more completely understood and the conference is underway.
Other news today: Wall Street Says These Stocks Are About to Soar and Treasury Tackles Bitcoin
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