Arcellx (NASDAQ: ACLX) is advancing into pivotal testing (by year-end 2022) of its B-cell maturation antigen (BCMA) directed combination antiretroviral therapy (CART), known as ddBCMA, for relapsed refractory multiple myeloma, according to BofA Securities.
Biopharma stocks lock-stepped with the broader market in the week ending Feb. 25 before finishing higher. The trajectory was the same, with the sector declining in the first two sessions of the holiday-shortened week before making a comeback.
US stock futures traded lower this morning after recording sharp losses in the previous session. Investors, meanwhile, focused on some notable insider trades.
Biotech stocks managed to close the week ending Feb. 4 with gains. Stocks recovered along with the broader markets early in the week, but came under pressure midweek amid negative reaction to some big pharma earnings. The sector came back up in the final session for a firm finish.