Abivax is trading 4.7% down now at $101.60, primarily as biotech shares weakened after disappointing pelacarsen trial results intensified concerns about clinical risk and investor sentiment.
- The decline extends losses from September 15 and September 14.
- No fresh company-specific announcement was identified for September 16; the latest company-related disclosure was Bank of America’s reduction of its indirect stake below 5% after market sales.
- The Federal Reserve’s rate hike and elevated Treasury yields may also be weighing on growth-oriented biotechnology stocks.