On Monday, shares of Replimune (REPL), Hoth Therapeutics (HOTH), and Onconetix (ONCO) experienced significant declines, hitting new 52-week lows. REPL fell 64% after facing a second Complete Response Letter from the FDA regarding its lead drug for melanoma, leading to analyst downgrades. HOTH dropped 1% due to a $2 million stock offering that raised concerns about dilution, despite positive pipeline updates. ONCO slid 27% following a reverse stock split and unresolved investor sentiment surrounding its all-stock acquisition of Realbotix. Overall, while these stocks underperformed, the broader XLV healthcare ETF gained 0.5%.
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Link to original article source: https://stocktwits.com/news-articles/markets/equity/repl-hoth-onco-stocks-hit-52-week-lows-whats-driving-biotech-selloff/cZJpsMDRIH2
