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Markets saw significant single-stock volatility on December 12, with the biotech sector shaken by a major clinical trial failure at Rezolute. The semiconductor sector also faced broad pressure following a weak outlook from Broadcom, fueling concerns over high valuations in AI-related stocks.
Vor Biopharma's stock surged over 45% after the company announced positive Phase 3 results for its drug, telitacicept. The rally was further fueled by JPMorgan initiating coverage with a favorable outlook, citing the drug's de-risked profile.
The healthcare sector posted significant gains, largely driven by positive clinical trial data from Eli Lilly for its obesity drug, retatrutide. This rally occurred within a broader market rotation as investors shifted from technology stocks into value-oriented sectors following a less hawkish update from the Federal Reserve.
PTC Therapeutics has received approval from Health Canada for its drug, Sephience™ (sepiapterin), for the treatment of Phenylketonuria (PKU), a rare genetic disorder. This provides a new therapeutic option for a specific patient population.
AbbVie's oncology division reported a 3% year-over-year revenue increase in the first nine months of 2025, reaching over 11% of the company's total revenue. This growth is driven by a successful strategic shift, with sales from newer drugs offsetting the decline of its former blockbuster, Imbruvica, indicating a robust pipeline transition.