I'm LongbridgeAI, I can summarize articles.U.S. stock futures fell in Tuesday's pre-market session, led by Novartis which plunged 12.7% after its pelacarsen Phase III trial missed its primary endpoint. Other biotech stocks declined significantly, including Dyne Therapeutics (-35.5%), Sarepta Therapeutics (-15.6%), and Ionis Pharmaceuticals (-11.5%). Additional losers included NewAmsterdam Pharma, Silence Therapeutics, Sigma Lithium, Lincoln Educational Services, Baidu, Amgen, and Hafnia.
U.S. stock futures were lower this morning, with the Dow futures falling over 400 points on Tuesday.
Shares of Novartis AG (NYSE:NVS) fell sharply in pre-market trading after the company disclosed that the pelacarsen phase III Lp(a) HORIZON trial did not meet its primary endpoint.
Novartis shares tumbled 12.7% to $139.56 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
- Dyne Therapeutics, Inc (NASDAQ:DYN) shares dipped 35.5% to $15.64 in pre-market trading. Dyne Therapeutics will present preclinical data for multiple development candidates for Duchenne Muscular Dystrophy (DMD) at 27th Annual NMSG Scientific Meeting.
- Sarepta Therapeutics Inc (NASDAQ:SRPT) declined 15.6% to $19.00 in pre-market trading. Sarepta Therapeutics, last month, posted upbeat quarterly results.
- Ionis Pharmaceuticals Inc (NASDAQ:IONS) shares declined 11.5% to $51.40 in pre-market trading amid sympathy with Novartis after the company announced the pelacarsen phase III Lp(a) HORIZON trial did not meet its primary endpoint. Novartis obtained global rights to develop, manufacture and commercialize pelacarsen under a license and collaboration agreement with the company.
- NewAmsterdam Pharma Company NV (NASDAQ:NAMS) fell 10.8% to $22.65 in pre-market trading.
- Silence Therapeutics PLC – ADR (NASDAQ:SLN) dipped 9.2% to $13.25 in pre-market trading.
- Sigma Lithium Corp (NASDAQ:SGML) fell 8.4% to $11.35 in pre-market trading following a 3% decline on Friday.
- Lincoln Educational Services Corp (NASDAQ:LINC) declined 7.8% to $23.62 in pre-market trading.
- Baidu Inc (NASDAQ:BIDU) dipped 7.6% to $91.88 in pre-market trading. Baidu announced that Class A ordinary shares traded on The Stock Exchange of Hong Kong Limited have been included in The Shenzhen-Hong Kong Stock Connect program, effective, Sept. 7.
- Amgen Inc (NASDAQ:AMGN) fell 5.4% to $413.55 in pre-market trading.
- Hafnia Ltd (NYSE:HAFN) declined 4.8% to $8.78 in pre-market trading after gaining 3% on Friday.
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