Biotech & Genomic Medicine▲
Q32 Bio Leads Biotech Gainers on Positive Phase 2 Hair Loss Trial Results
Q32 Bio led biotech gainers Monday with shares soaring over 90% after its Phase 2 SIGNAL-AA trial of Bempikibart in severe alopecia areata showed 40% of patients in the modified intent-to-treat group achieved 20% or less scalp hair loss by Week 36. The company plans a registration-directed program in the first half of 2027 and also announced a $200 million public offering. Agenus jumped over 82% after entering an $85 million private placement to fund its planned Phase 3 ROBBIN1 trial of botensilimab and balstilimab in MSS colon cancer, with first patient dosing expected in early 2027. Actuate Therapeutics gained over 23% following last month's news that its drug Elraglusib will be evaluated in the BEACON2 pediatric neuroblastoma trial. Galectin Therapeutics rose over 13% after reaching an FDA agreement on the primary endpoint for its Phase 3 study of Belapectin in MASH cirrhosis. Amwell and Shoulder Innovations each gained over 11% on no specific news, with Amwell expecting second-quarter revenue of $48 million to $52 million and Shoulder Innovations raising its full-year revenue guidance to between $65 million and $68 million.