Neutral/Negative Catalysts
- Biotech risk remains binary/event-driven (clinical readouts can reprice shares sharply).
- News also flags current revenue challenges and risks while the program is still developing.
- Technicals are not yet in a clear uptrend (price below pivot; MACD still negative).
- Broader market backdrop was risk-off (S&P 500 -0.85% on the day), which can pressure high-beta biotech names.