The decision against Syfovre’s approval follows efforts by Apellis to have reviewers reevaluate clinical evidence multiple times and, according to an analyst, will lead to a restructuring of the ...

Shares dropped by as much as one-quarter Thursday after the biotech shared longer-term results for a gene therapy it’s developing for wet AMD.

In a letter to CEO Anne Wojcicki, the directors said they’d resign “rather than have a protracted and distracting difference of view with you” about the company’s future.

According to the company, the results are the first time an antiviral drug has reduced transmission of a respiratory virus in a global Phase 3 trial.

Industry insiders hope the Fed’s decision to cut rates for the first time in years will boost biotech investment. But the long-awaited move won’t cure all that ails the sector, others cautioned.