3 Biotechs Posting Big Moves In Monday's After-Hours Session

After a weak end to last week, U.S. markets continued to tumble on Monday, driven by increased fears of a Brexit and anxieties related to the Federal Reserve policy meeting.

Let’s take a look into some of the stocks moving in the after-hours session.

One of the largest moves after the bell rang was by Revance Therapeutics Inc RVNC, down roughly 27 percent after the company announced its REALISE 1 Phase 3 trial of DaxibotulinumtoxinA Topical Gel (RT001) to treat patients with moderate to severe lateral canthal lines (crow’s feet) had failed to meet co-primary and other endpoints.

Also down was ImmunoGen, Inc. IMGN, which lost more than 11 percent after the market closed. The decline was triggered by the announcement of a private offering of $100 million in convertible senior notes. The price, yield and terms of the notes have not been disclosed yet, but the company said it plans to use the proceeds to fund operations, Research & Development, working capital, capex and other corporate purposes.

On the other hand, Infinity Pharmaceuticals Inc. INFI traded up more than 3 percent in what seemed like a correction of the tumble seen during the day. The stock lost 8.32 percent on Monday, hitting a $52 week low of $4.38 before closing at $4.41.