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Benzinga

Business

Henry Khederian

Why Molecular Partners Shares Are Getting Hammered

Novartis FDA Nasdaq Covid-19

Molecular Partners AG (NASDAQ:MOLN) shares are trading lower by 36.52% at $8.38 after the company and its partner Novartis expects the FDA may require additional clinical data for the Emergency Use Application for ensovibep, a DARPin antiviral therapeutic candidate to treat COVID-19.

Vas Narasimhan, Novartis’ CEO, also noted the current omicron wave of SARS-Cov-2, and the lower incidents of hospitalization associated with it, have made clinical investigations challenging to execute in this evolving environment.

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