U.S. stock futures were climbing Monday morning, with Dow futures up around 200 points. But while the broader market looked cheerful, a handful of stocks were facing some serious headwinds.
The biggest casualty was argenx SE (ARGX), which took a nosedive after announcing it was pulling the plug on its Phase 3 UplighTED studies. The biotech company discontinued trials of efgartigimod SC in thyroid eye disease after a futility review—which is clinical trial speak for "this isn't working out the way we hoped." Shares tumbled 6% to $825.00 in pre-market trading.
Here's a look at the other notable decliners before the opening bell.
TryHard Holdings Ltd (THH) gave back some of Friday's spectacular gains, dropping 15.2% to $13.16 in pre-market trading. The stock had rocketed 58% higher on Friday, so a bit of profit-taking isn't exactly shocking.
Site Centers Corp (SITC) was one of the morning's steepest fallers, declining 13.4% to $6.33 in pre-market action.
Exicure Inc (XCUR) slipped 8.7% to $5.80 after gaining 5% on Friday, while Celldex Therapeutics Inc (CLDX) declined 8.4% to $25.19.
CapsoVision Inc (CV) fell 6.4% to $12.03, extending Friday's roughly 11% decline. Zillow Group Inc (Z) dropped 5.6% to $70.50 in early trading.
BeOne Medicines AG (ONC) declined 4.9% to $303.50, while ServiceNow Inc (NOW) fell 4.7% to $824.50 after KeyBanc downgraded the stock to Underweight.
Rounding out the decliners, WaterBridge Infrastructure LLC (WBI) fell 4.4% to $20.05 and Pharming Group N V (PHAR) declined 4.2% to $17.23 in pre-market trading.
