OS Therapies Forms Drug Conjugates Unit, Reviews Options for Tunable ADC, Drug Conjugates Platforms

(13:00 GMT) OS Therapies Price Target Maintained With a $20.00/Share by D. Boral Capital

(12:45 GMT) OS Therapies Price Target Maintained With a $20.00/Share by D. Boral Capital

Health care stocks were lower late Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding about 0.9%.

The iShares Biotechnology ETF (IBB) eased 0.2%.

In corporate news, enGene shares fell past 7% after UBS downgraded the stock to neutral from buy and cut its price target to $7 from $34.

Moderna (MRNA) reported a Q4 loss of $2.91 per share, worse than the $2.83 loss expected in a FactSet poll. Revenue was $966 million, better than the consensus estimate of $942.8 million. Its shares gained about 4%.

OS Therapies shares jumped 12%. The firm said it signed agreements for the commercial-ready manufacturing of OST/HER2 to support anticipated Biologics Licensing Authorization filing.

West Pharmaceutical Services shares popped past 7%. Deutsche upgraded the stock to buy from hold while lowering its price target to $250 from $275.

Health care stocks declined Friday afternoon, with the NYSE Health Care Index falling 0.8% and the Health Care Select Sector SPDR Fund (XLV) down 0.5%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Moderna reported a Q4 loss of $2.91 per share, worse than the $2.83 loss expected in a FactSet poll. Revenue was $966 million, better than the consensus estimate of $942.8 million. Its shares rose 2%.

OS Therapies shares jumped nearly 24% after it said Friday it signed agreements to begin commercial manufacturing of its lead asset OST/HER2 as it prepares for a potential Biologics License Application submission to the US Food and Drug Administration.

West Pharmaceutical Services shares popped 10%. The company has a solid position in the injectable-drug containment market with "sticky recurring revenue," and the stock price has dropped to an "attractive entry point" after underwhelming Q4 results and 2025 guidance, Deutsche Bank said Friday in a note. Deutsche upgraded the stock to buy from hold and lowered its price target to $250 from $275.

OS Therapies said Friday it has signed agreements to begin commercial manufacturing of its lead asset OST/HER2 as it prepares for a potential Biologics License Application submission to the US Food and Drug Administration.

The company said it is compiling additional data from its recently completed phase 2b trial of OST/HER2 for lung metastatic osteosarcoma recurrence prevention.

It plans to meet with the FDA for regulatory discussions before submitting a BLA for accelerated or conditional approval, OS Therapies added.

Shares of the company were up more than 36% in recent Friday premarket activity.

US stocks looked set to open marginally lower in Friday's trading session as retail sales in January fell far more than expected.

The Dow Jones Industrial Average futures were down 0.15%, S&P 500 futures were off 0.05%, and Nasdaq futures were edging 0.03% lower.

Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.97% and 0.88% respectively.

Retail sales for January fell 0.9%, well off the 0.2% decline expected by analysts, according to Bloomberg, while core retail sales lost 0.4%, compared with analyst forecasts of a 0.3% gain.

In other world markets, Japan's Nikkei declined 0.79%, Hong Kong's Hang Seng soared 3.69%, and China's Shanghai Composite gained 0.43%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 and Germany's DAX were both down 0.30%, while France's CAC 40 was up 0.36%.

In equities, shares of WeRide jumped 84% in Friday's premarket session after Nvidia (NVDA) disclosed a stake in the company. Virpax Pharmaceuticals' shares advanced 58% after it said late Thursday that it completed the full study that followed the initial Probudur pilot study performed by the US Army Institute of Surgical Research. Moleculin Biotech's stock surged 54%, adding to a 202% gain the previous session. OS Therapies climbed 36% after it said Friday that it signed agreements for the commercial manufacture of OST/HER2 to treat osteosarcoma, which is a type of bone cancer. And shares of Zoomcar were up 10%, adding to a 5% gain on Thursday.

On the losing side, shares of Bellevue Life Sciences Acquisition plunged 39%, more than wiping out a 13% gain on Thursday. Bolt Projects' stock tumbled 42% after soaring 303% the previous session. Shares of Mynaric shed 34%, piling on to a 32% loss on Thursday when it said it received a Nasdaq delisting notice. Serve Robotics dropped 37%, erasing a 17% gain the previous session after Nvidia said it a filing that it has exited its stake in the company. And shares of Informatica (INFA) dropped 33% after it reported Q1 and full-year 2025 guidance late Thursday that missed analyst forecasts.