Shares of Kodiak Sciences Inc. KOD experienced a sharp decline during Thursday’s trading session following the announcement of a larger-than-anticipated fourth-quarter loss.
Kodiak Sciences recorded a quarterly loss of $1.13 per share, surpassing the market’s forecast of 77 cents per share.
As a result, Kodiak Sciences shares tumbled by 19.9% to $5.97 by mid-day on Thursday.
Winners
- Avalo Therapeutics, Inc. AVTX skyrocketed by 430% to $25.35 following the acquisition of a Phase 2-ready anti-IL-1β mAb, known as AVTX-009, through the purchase of AlmataBio alongside a private placement financing of up to $185 million.
- Xilio Therapeutics, Inc. XLO surged by 146% to $1.58 after revealing an exclusive license deal with Gilead Sciences for a tumor-activated IL-12 program in addition to a $11.3 million private placement equity financing.
- Biodexa Pharmaceuticals Plc BDRX observed an 80% increase to $1.5395 based on positive outcomes demonstrated by MTX110 in prolonging survival rates against aggressive brain cancers.
- Ontrak, Inc. OTRK saw a 55% rise to $0.9239.
- Binah Capital Group, Inc. BCG rebounded by 48% to $14.05 after a previous 20% drop on Wednesday.
- Kidpik Corp. PIK surged by 40.7% to $4.5999, regaining Nasdaq’s minimum bid price requirement.
- Allego N.V. ALLG rose by 32.8% to $1.7650.
- Akanda Corp. AKAN climbed by 28% to $0.2053 following the announcement of a strategy to explore opportunities in Bitcoin, Blockchain, and AI applications within the cannabis sector.
- Destiny Tech100 Inc. DXYZ rose by 26% to $22.15.
- REX American Resources Corporation REX climbed by 23.2% to $54.15 following positive earnings news.
- Nutriband Inc. NTRB surged by 23% to $4.98, providing an overview of the clinical and regulatory pathway for its AVERSA Fentanyl patch.
Losers
- Primech Holdings Ltd. PMEC encountered a 46.7% drop to $2.07 subsequent to the announcement of financial updates and corporate highlights for the six months ended Sept. 30.
Market Turmoil: A Look at Top Stocks Plunging
Stocks in Freefall
- Gamida Cell Ltd. GMDA plummeted 28.1% to $0.0427 after revealing a daunting restructuring process alongside disappointing fourth-quarter results.
- Data Storage Corporation DTST dropped 24% to $5.81 following its fourth-quarter performance report.
- urban-gro, Inc. UGRO experienced a 22.9% decline to $1.3992 after posting below-par financial results for the fourth quarter.
- Presto Automation Inc. PRST saw a significant 22% drop to $0.1493 after engaging in securities purchase agreements related to shares issuance and sale.
- Tonix Pharmaceuticals Holding Corp. TNXP dipped 19.6% to $0.2629 following the pricing of a registered direct offering amounting to $4.4 million.
- MillerKnoll, Inc. MLKN witnessed a 17.2% decline to $25.28 due to subdued sales in the third quarter and gloomy guidance for the fourth quarter.
- Sezzle Inc. SEZL experienced a sharp 16.6% fall to $77.13.
- NuCana plc NCNA tumbled 16.3% to $0.2616 unveiling plans for a significant 1-for-25 ADS ratio change.
- SOBR Safe, Inc. SOBR dropped 13.7% to $0.4460 after a brief surge of 12% on the previous trading day.
- Murano Global Investments Plc MRNO slumped by 13% to $12.97.
- 22nd Century Group, Inc. XXII fell 12.5% to $ 0.1151 as the company announced its fourth-quarter results and a 1-for-16 stock split.
- MicroStrategy Incorporated MSTR declined 10.9% to $1,710.01.
- Hitek Global Inc. HKIT suffered a 10.3% drop to $1.56, following a 22% gain in the previous trading session.
- Movella Holdings Inc. MVLA experienced a 10.2% decline to $0.0678 after a 20% dip in the prior trading day.
- Abits Group Inc. ABTS tumbled 10.2% to $0.70 in the market turmoil.
- Reddit, Inc. RDDT fell 9.4% to $52.32.
- Braze, Inc. BRZE dipped 9.3% to $45.90 after the company provided a soft EPS guidance for the fiscal year 2025.
- The Chemours Company CC witnessed a 6.2% drop to $27.09 post announcing fourth-quarter results and identifying four material weaknesses in its financial reporting controls.
- GCT Semiconductor Holding Inc, GCTS fell 5.1% to $41.77 amid volatility surrounding its business combination with Concord Acquisition Corp III and NYSE debut.
- Carnival Corporation & plc CCL observed a 4% decline to $16.52 following a narrower-than-expected loss in its first-quarter performance report.
