
Biotech stocks posted weekly declines yet again in the week ending April 29, taking cues from the weak broader market sentiment. Big pharma earnings, clinical readouts and pipeline updates moved stocks during the week.
Molecular Partners AG (MOLN) was among the worst decliners of the week, reacting to potential issues with the emergency use authorization filing for its antiviral candidate and a loss of partnership with Amgen, Inc. (NASDAQ:AMGN).