In June, biotech stocks propelled the ALPS Medical Breakthroughs ETF (SBIO) to an 18.7% return, its best month since December 2023. Major contributors included Apogee Therapeutics, which surged 61.6% following a $10.9 billion acquisition announcement by AbbVie, and Definium Therapeutics, which jumped 92.2% after positive Phase 3 trial results for a depression treatment. Oruka Therapeutics also gained significantly on promising psoriasis trial data. These developments highlight the impact of clinical-stage biotech companies and major buyouts on ETF performance.
The European Commission has approved RINVOQ (upadacitinib) for treating non-segmental vitiligo (NSV) in adults and adolescents aged 12 and older. This marks the first systemic medication authorized in the EU for NSV, the most common form of vitiligo,...
The European Commission has approved RINVOQ (upadacitinib) for treating severe alopecia areata in adults and adolescents 12 years and older, based on Phase 3 clinical trials demonstrating significant scalp hair regrowth and improvements in eyebrows a...
US stock futures point to a strong start with Dow Jones up 1.1%, S&P 500 up 0.9%, and Nasdaq up 1.5%, driven by a sharp 6.3% drop in oil prices following a pause in US-Iran military actions. Although no official ceasefire is declared, Iran has agreed...
