US stocks are poised to open relatively flat in Tuesday's trading session as investors await crucial inflation data scheduled to be released on Wednesday. Dow Jones Industrial Average futures fell by 0.22%, while S&P 500 futures experienced a slight uptick of 0.02%. Meanwhile, Nasdaq futures saw an increase of 0.13%.
Oil prices have edged slightly lower, with Brent crude and West Texas Intermediate crude dropping by 0.15% and 0.07%, respectively. In other global markets, Japan's Nikkei index rose by 0.53%, contrasting with Hong Kong's Hang Seng, which fell by 0.50%. China's Shanghai Composite reported a gain of 0.59%.
Over in Europe, the UK's FTSE 100 dropped by 0.60% in the early afternoon, while Germany's DAX edged up by 0.1%, and France's CAC declined by 0.69%. Several biotech stocks are making headlines today. Chimerix experienced a massive surge of 171% after announcing late Monday its plans to submit a new drug application to the FDA by year's end for accelerated approval of dordaviprone, aimed at treating recurrent H3 K27M-mutant diffuse glioma.
Cumberland Pharmaceuticals saw its shares soar by 135%, following news that the FDA approved a supplemental NDA for acetadote, a treatment designed to prevent or mitigate liver injury from toxic levels of acetaminophen. Additionally, shares of uniQure jumped 95% as the company announced a provisional agreement with the FDA regarding an Accelerated Approval pathway for its treatment AMT-130 for Huntington's disease. However, not all stocks fared well.
CervoMed's shares plummeted by 73% after it reported that its phase 2b clinical trial investigating neflamapimod for dementia with Lewy bodies did not satisfy its primary and secondary endpoints. Biora Therapeutics saw a plunge of 45% following Nasdaq's decision to delist its securities due to non-compliance with market value requirements.
Further compounding market woes, MEDIROM Healthcare Technologies experienced a 39% drop after revealing it will offer 2,860,000 American Depositary Shares at $1.75 each, potentially raising around $5 million..