Stocks tumbled as sweeping tax and spending bill could dramatically increase federal deficit

Werewolf Therapeutics

Werewolf announced in its quarterly financial results that net loss was $18 million for the first quarter of 2025, compared to $16 million for the same period in 2024. The company also said that WTX-124 Phase 1/1b trial is on track for data readouts and interactions with the FDA in the second half of the year.

Allogene Therapeutics

Allogene reported a net loss for the first quarter of 2025 of $60 million, or $0.28 per share. The company also announced it will hold an oral presentation of ALLO-316 in kidney cancer and ALPHA3 TIP poster for cema-cel at ASCO Meeting.

Autolus Therapeutics

recommended European Commission approval of obe-cel for the treatment of adult patients, 26+, with relapsed or refractory B-cell precursor ALL. Separately, the company announced a net loss of $70 million for 1Q 2025, compared to $53 million for the same period in 2024.

Arcellx

Arcellx announced new positive data for its iMMagine-1 study in patients with relapsed and/or refractory multiple myeloma. Results from all 117 patients dosed in the pivotal Phase 2 iMMagine-1 study of anito-cel demonstrated 97% ORR and 68% CR/sCR at a median follow-up of 12.6 months. No delayed neurotoxicities including no Parkinsonism, no cranial nerve palsies, and no Guillain-Barré syndrome, and no immune-mediated enterocolitis have been observed to date with anito-cel. The data were presented during an oral presentation at EHA 2025.

Mustang Bio

Short interest of Mustang dropped by 70 % to 58,835 reported on May 15, compared to 199,322 on April 30.

Immutep

Immutep announced that the investigator-initiated EFTISARC-NEO Phase 2 trial evaluating efti with radiotherapy plus Keytruda in the neoadjuvant setting for resectable soft tissue sarcoma (STS) has met its primary endpoint. The novel combination significantly exceeded the study’s prespecified median of 35 % tumor hyalinization/fibrosis versus 15 % for historical data from radiotherapy alone in patients with resectable STS.

MacroGenics

MacroGenics reported in its quarterly financial results that a net loss was $41 million for 1Q 2025, compared to a net loss of $52 million for 1Q 2024.