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Shares of Foghorn Therapeutics plunged for a second day after the company and partner Eli Lilly terminated their collaboration, halting development of a key drug candidate and prompting a wave of analyst downgrades.
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The special purpose acquisition company sold 21 million units at $10.00 each, including a partial exercise of the over-allotment option, with proceeds placed in a trust for a future merger.
Canada's main stock index rose 0.99% on Friday, driven by a broad rally in the Materials, Industrials, and IT sectors. The advance was accompanied by a drop in market volatility, while key commodity prices also ticked higher.
Brazil's benchmark Bovespa stock index closed up 2.63% on Friday, reaching its highest level in three months, driven by strong performance in the real estate and basic materials sectors. However, a rise in the market's volatility index to a three-year high indicated underlying investor caution.
U.S. equity markets closed higher on Friday, propelled by a strong performance in the technology sector that pushed the Nasdaq Composite up 1.19%. The Dow Jones Industrial Average and S&P 500 also finished the session with solid gains.
The Independent Community Bankers of America has filed a federal lawsuit against the Office of the Comptroller of the Currency, arguing the regulator overstepped its authority by granting bank charters to cryptocurrency companies.
David Ellison plans a significant leadership overhaul at Warner Bros. Pictures following the $110 billion acquisition by Paramount Skydance, with Paramount's current film chiefs set to take control, according to a report.
A U.S. federal court has dismissed several trade-secret and contract-related claims in the lawsuit brought by Joby Aero against rival eVTOL developer Archer Aviation, according to an announcement from Archer.
A Russian air campaign targeting critical infrastructure has repeatedly struck key bridges in Kyiv, severing vital transport links across the Dnipro River and causing significant economic and logistical disruption for the capital's residents.
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