On Monday, Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) saw its stock price decline markedly, closing down approximately 42% at $19.84. This move followed the release of data from Phase 3 clinical trials, namely the Orbit and Cosmic studies, evaluating setrusumab (UX143) for the treatment of Osteogenesis Imperfecta (OI). Conducted in partnership with Mereo BioPharma, these studies addressed a genetic disorder characterized by mutations in collagen that adversely affect bone metabolism, resulting in increased bone fragility and a heightened fracture risk.
Mereo BioPharma Group plc (NASDAQ: MREO) also experienced a pronounced share price decrease, plummeting 90% to $0.23. The company disclosed that the Phase 3 clinical trials for setrusumab targeting OI did not achieve statistical significance against the primary endpoints, which included reductions in annualized clinical fracture rates compared with placebo or bisphosphonates.
Aside from these declines, the market exhibited considerable activity among other stocks during Monday's mid-day trading session. Noteworthy gainers included Republic Power Group Ltd (NASDAQ: RPGL), which posted a 163% increase to $0.69. Brand Engagement Network Inc (NASDAQ: BNAI) surged 84.3% to $2.21 following the announcement of a Vendor Services Project Agreement with a global advertising and communications agency.
Globavend Holdings Ltd (NASDAQ: GVH) and CCSC Technology International Holdings Ltd (NASDAQ: CCTG) likewise recorded substantial highs, with increases of 58.5% and 57.3%, respectively. Additionally, Eightco Holdings Inc (NASDAQ: ORBS) saw a 29.1% uptick to $2.15 subsequent to announcing a sizable share repurchase program authorized for up to $125 million.
Greenwich Lifesciences Inc (NASDAQ: GLSI) also gained 25.7% to $26.00 after extending its lock-up period through September 30, 2026. Other stocks recording notable positive performance included TROOPS Inc (NASDAQ: TROO) with a 23.3% increase, Fitell Corp (NASDAQ: FTEL) up 21.2%, TryHard Holdings Ltd (NASDAQ: THH) rising 19.2%, and Palisade Bio Inc (NASDAQ: PALI) advancing 18.6%. The latter’s improved outlook was supported by an initiation of coverage from Piper Sandler analyst Yasmeen Rahimi, who assigned an Overweight rating with a $25 price target.
Additional notable gainers included Regencell Bioscience Holdings Ltd (NASDAQ: RGC) up 16.3%, Praxis Precision Medicines Inc (NASDAQ: PRAX), which surged 13% following the U.S. Food and Drug Administration’s granting of Breakthrough Therapy Designation for ulixacaltamide, and Zura Bio Ltd (NASDAQ: ZURA) with a 13% increase.
DigitalBridge Group Inc (NYSE: DBRG) rose 9.9% to $15.30 after agreeing to be acquired by SoftBank Group at an enterprise value of approximately $4.0 billion. Several other biotechnology and technology companies, including Precigen Inc, Autolus Therapeutics PLC, and LightPath Technologies Inc, also saw their share prices climb moderately.
Conversely, multiple stocks encountered downward pressure aside from Ultragenyx and Mereo BioPharma. X3 Holdings Co Ltd (NASDAQ: XTKG) dropped by 42.1%, ECD Automotive Design Inc (NASDAQ: ECDA) declined 38.3%, and CID HoldCo Inc (NASDAQ: DAIC) fell 34.6%. Carbon Revolution PLC (NASDAQ: CREV) and Northann Corp (NYSE: NCL) also posted declines of 27.8% and 26.5%, respectively.
Security Matters PLC (NASDAQ: SMX) decreased 26.5% to $85.60, while Inovio Pharmaceuticals Inc (NASDAQ: INO) closed down 22.3% at $1.78 following the U.S. Food and Drug Administration’s acceptance of its Biologics License Application (BLA) for INO-3107, accompanied by concerns regarding the accelerated approval pathway.
Other diminishing stocks included 374Water Inc (NASDAQ: SCWO), which declined 19.6%, despite appointing Charles Weiser to its Board of Directors; Hycroft Mining Holding Corporation (NASDAQ: HYMC), down 14%; Coincheck Group NV (NASDAQ: CNCK), which decreased 11.5%; CapsoVision Inc (NASDAQ: CV), down 11.2%; and Americas Gold and Silver Corporation (NYSE: USAS), falling 11%. Precious metal equities generally traded lower as commodity prices retreated from recent levels, including a pullback in silver after it reached historic highs.
Finally, Uxin Ltd (NASDAQ: UXIN) slid 10.8% to $3.41, despite reporting solid quarterly gains in revenue, vehicle sales, and key profitability metrics, and conducting a substantial equity raise.
These market movements reflect a combination of clinical trial results, corporate strategic initiatives, regulatory decisions, and broader commodity price fluctuations influencing investor sentiment across various sectors during the session.