Biotech stocks advanced in the week ended May 27, tracking the overall positive sentiment of the broader market. Notwithstanding the week's strength, the sector has been one of the worst performers for the year-to-date period.
Among notable developments,Genocea Biosciences, Inc.(NASDAQ:GNCA) announced that it is shuttering operations amid a cash crunch. The company also plans to voluntarily delist its shares from Nasdaq by June 2.
Verrica Pharmaceuticals, Inc.(NASDAQ:VRCA) suffered a setback after its viral skin infection treatment candidate was rejected by the Food and Drug Administration on its third try.
Catalyst Biosciences, Inc.(NASDAQ:CBIO...
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