XBI is trading 3.05% down now at $152.79 as biotechnology shares weaken broadly amid pressure from the pelacarsen Phase 3 failure.
- Pelacarsen missed its cardiovascular-outcomes endpoint, continuing to weigh on biotech sentiment.
- The S&P 500, Nasdaq, and Dow are lower; the 10-year Treasury yield reached 5.02%, increasing the discount-rate burden on growth-oriented biotech companies.