PHGE Overview

Discontinuation of Clinical Trial: BiomX Inc. has halted its Phase 2b clinical trial for BX004, a nebulized phage therapy for cystic fibrosis patients, due to high rates of adverse events and safety concerns raised by the Data Monitoring Committee.

FDA Hold and Protocol Adjustments: The FDA had previously placed a hold on U.S. enrollment for the trial, prompting the company to consider protocol adjustments, including revised dosing, which ultimately led to the decision to discontinue the program.

Shift in Focus: BiomX will now concentrate on advancing BX011, a phage cocktail targeting Staphylococcus aureus infections in diabetic foot infections, while implementing cost-cutting measures, including workforce reductions.

Stock Performance: Following the announcement, BiomX's stock price fell significantly, closing at $3.26, down nearly 37%, and has fluctuated between $2.92 and $22.05 over the past year.

U.S. Stock Market Performance: U.S. stocks declined, with the Dow Jones falling over 200 points, while the NASDAQ and S&P 500 also experienced losses. Information technology shares rose by 0.6%, but communication services stocks dropped by 2.1%.

Notable Stock Movements: Structure Therapeutics and Wave Life Sciences saw significant gains of 100% and 124%, respectively, due to positive clinical trial results for obesity treatments. Conversely, SMX and BiomX faced substantial declines of 57% and 33%, respectively, following negative news.

Commodity Prices: Oil prices decreased by 1.6% to $59.14, while gold and silver also saw declines of 0.6% and 1.1%, respectively. Copper prices fell by 0.7%.

Global Market Overview: European shares were mixed, with the eurozone's STOXX 600 slightly down, while Asian markets closed mixed as well, with Japan's Nikkei rising slightly and Hong Kong's Hang Seng declining.