Market Overview - The stock market experienced mixed results on the first trading day of July, with the S&P 500 and Nasdaq declining by -0.11% and -0.82% respectively, while the Dow and Russell 2000 increased by +0.91% and +0.94% respectively [1] - A rotation occurred in the market, with tech stocks lagging after a strong first half of 2025, while healthcare stocks led, exemplified by Amgen (AMGN) gaining +4% and Merck (MRK) up +3.4% [2] Economic Indicators - The Job Openings and Labor Turnover Survey (JOLTS) for May reported 7.8 million job openings, exceeding expectations of 7.3 million, with job quits at 3.3 million and layoffs/discharges at 1.6 million [4] - The highest job openings were in Accommodation/Food Service (+314K) and Finance/Insurance (+91K), while the Federal Government saw a decrease of -39K jobs [5] - Manufacturing data showed stronger than expected results, with S&P final Manufacturing PMI at 52.9 and ISM Manufacturing at 49.0%, while Construction Spending for May fell to -0.3% [6] Company Performance - Constellation Brands (STZ) reported Q1 earnings of $3.22 per share on revenues of $2.52 billion, missing estimates of $3.38 per share and $2.57 billion, attributed to softer consumer demand in wine and beer sales, with shares down -24% year to date [7]

SAN DIEGO, July 01, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company applying its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) therapeutics, today announced that the Compensation and Human Capital Committee of its Board of Directors (Compensation Committee) granted non-qualified stock option awards and restricted stock units (RSUs) for an aggregate of 12,100 shares of its common stock to two new employees, pursuant to the Cidara Therapeutics, ...

LAUSANNE, Switzerland, July 1, 2025 /PRNewswire/ -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that the Company has made grants of options to purchase an aggregate of 17,000 of the Company's common shares to one new employee on July 1, 2025 (each, a "Grant").The Grants were offered as material inducement to the employees' employment. The grants were approved by the Compensation Committee of the Company's Boa ...

LOS ANGELES, July 01, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming August 11, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Rocket Pharmaceuticals, Inc. (“Rocket” or the “Company”) (NASDAQ: RCKT) securities between February 27, 2025 and May 26, 2025, inclusive (the “Class Period”). IF YOU SUFFERED A LOSS ON YOUR ROCKET INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CL ...

Core Viewpoint - A class action lawsuit has been filed against Sarepta Therapeutics, Inc. for misleading statements regarding the safety and efficacy of its gene therapy product, ELEVIDYS, during the specified Class Period from June 22, 2023, to June 24, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Sarepta made false and misleading statements about ELEVIDYS, which is intended for patients with Duchenne muscular dystrophy, including significant safety risks and failure to detect severe side effects [5]. - It is alleged that the adverse events from ELEVIDYS treatment would lead to a halt in recruitment and dosing in trials, attract regulatory scrutiny, and increase risks around the therapy's approvals [5]. - Investors are encouraged to join the class action to seek compensation without upfront costs through a contingency fee arrangement [2][3]. Group 2: Legal Representation - The Rosen Law Firm, known for its success in securities class actions, is representing the investors and has a strong track record, including recovering hundreds of millions for investors [4]. - Investors are advised to select qualified legal counsel with a proven history in similar cases, as not all firms have comparable experience or resources [4]. Group 3: Next Steps for Investors - Interested investors can join the class action by visiting the provided link or contacting the law firm directly for more information [3][6]. - It is noted that no class has been certified yet, and investors may choose to remain absent or select their own counsel [7].

Core Insights - Rocket Pharmaceuticals (RCKT) has received FDA clearance for its investigational new drug application to initiate clinical studies for its gene therapy candidate RP-A701, aimed at treating BAG3-associated dilated cardiomyopathy [1][6] - The planned phase I study will assess the safety, biological activity, and preliminary efficacy of RP-A701 in adults with BAG3-DCM, a rare genetic heart condition [2][6] Company Pipeline - RCKT is also developing another gene therapy candidate, RP-A601, which is in early-stage development for arrhythmogenic cardiomyopathy [3] - Recent setbacks in the company's pipeline, including a voluntary pause in the phase II study of RP-A501 due to a patient death, have raised concerns [4][7] - The FDA has issued a complete response letter regarding the biologics license application for Kresladi, requesting additional information [8] Stock Performance - Year to date, RCKT's shares have declined by 80.5%, contrasting with a 3.6% decline in the industry [3] - The company currently holds a Zacks Rank of 3 (Hold), while other biotech stocks like Exelixis, Spero Therapeutics, and Puma Biotechnology have better rankings [9]

Core Viewpoint - AbbVie has entered into a definitive agreement to acquire Capstan Therapeutics for up to $2.1 billion in cash, aiming to enhance its immunology pipeline with innovative therapies [1][7]. Acquisition Details - The acquisition will incorporate Capstan's lead asset, CPTX2309, which is a potential first-in-class in vivo tLNP anti-CD19 CAR-T therapy currently in phase I development for treating B-cell-mediated autoimmune diseases [2][3]. - Capstan's proprietary tLNP platform technology, CellSeeker, will also be added, facilitating RNA delivery to engineer specific cell types within the body [2][7]. - The acquisition is subject to customary closing conditions, including regulatory approvals [3]. AbbVie's Acquisition Strategy - AbbVie has been actively pursuing acquisitions to strengthen its pipeline, particularly in the immunology sector, while also exploring early-stage deals in oncology and neuroscience [4]. - Since the beginning of 2024, AbbVie has signed over 20 early-stage deals, focusing on promising technologies that can enhance care standards in immunology, oncology, and neuroscience [4]. Recent Acquisitions - Earlier in 2024, AbbVie acquired rights to develop GUB014295 (ABBV-295), a long-acting amylin analog for obesity treatment, marking its entry into the obesity market [5]. - In January 2025, AbbVie completed the acquisition of Nimble Therapeutics, adding an investigational oral peptide IL23R inhibitor for psoriasis treatment and a proprietary peptide synthesis platform for autoimmune diseases [8].

[Click here for information about joining the class action] On May 8, 2025, after the market closed, Iovance released its first quarter 2025 financial results, revealing a quarterly total product revenue of $49.3 million, a significant decline from the prior quarter's $73.7 million. The Company also announced its full fiscal year 2025 total product revenue guidance had been slashed from $450 million - $475 million to $250 million - $300 million, a reduction of over 40% at the midpoint. Iovance revealed it w ...

Core Viewpoint - IGM Biosciences, Inc. has entered into a definitive merger agreement with Concentra Biosciences, LLC, where Concentra will acquire IGM Biosciences for $1.247 in cash per share, along with contingent value rights [1][2] Group 1: Merger Agreement Details - The acquisition price includes $1.247 in cash per share of IGM Biosciences common stock and one non-tradeable contingent value right (CVR) [1] - The CVR entitles holders to receive 100% of IGM Biosciences' closing net cash exceeding $82.0 million and 80% of net proceeds from the disposition of certain product candidates and intellectual property within one year post-closing [1] - The IGM Biosciences Board of Directors has unanimously approved the merger agreement, deeming it in the best interests of all stockholders [2] Group 2: Tender Offer and Closing Conditions - Concentra will initiate a tender offer by July 16, 2025, to acquire all outstanding shares of IGM Biosciences common stock [3] - The closing of the tender offer is contingent upon the tender of voting common stock representing at least a majority of outstanding shares and the availability of at least $82.0 million in cash [3] - The merger transaction is anticipated to close in August 2025, subject to customary closing conditions [3] Group 3: Legal Advisors - Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel for IGM Biosciences, while Gibson, Dunn & Crutcher LLP is acting as legal counsel for Concentra [4]

Core Points - TuHURA Biosciences, Inc. has been added to the Russell 3000® Index and automatically included in the Russell 2000® Index as part of the 2025 annual reconstitution, effective June 27, 2025 [1][2] - The inclusion in the Russell indexes signifies the company's progress in its first year as a publicly traded entity and reflects its potential for continued development [2] - TuHURA is currently enrolling patients in a Phase 3 accelerated approval trial of its lead product IFx-2.0, which is being tested as an adjunctive therapy to Keytruda® for advanced or metastatic Merkel cell carcinoma [2][11] - The company has also acquired a novel anti-VISTA antibody from Kineta, Inc. and plans to advance it into a Phase 2 clinical trial for treating NMPL1-mutated Acute Myeloid Leukemia [2] Company Overview - TuHURA Biosciences, Inc. is focused on developing novel technologies to overcome resistance to cancer immunotherapy, addressing both primary and acquired resistance [10] - The company's lead product, IFx-2.0, is designed to enhance the effectiveness of checkpoint inhibitors [11] - TuHURA is also leveraging its Delta Opioid Receptor technology to create bi-specific antibody drug conjugates aimed at inhibiting immune suppression in the tumor microenvironment [12]