Omeros (OMER) said it signed agreements to exchange $70.5 million of 2026 convertible notes for new 2029 convertible notes with a higher interest rate and conversion rate set at a 35% premium.
Shares sank 30% following an increase in intraday trading volume to over 4.39 million from a daily average of about 640,000.
Perpetua Resources (PPTA) reported a Q1 net loss of $0.12 per diluted share, more than twice the $0.05 loss reported a year earlier.
Shares declined 21%, with intraday trading volume rising to over 1.94 million versus a daily average of about 1.11 million.
President Donald Trump signed an executive order to lower prescription drug prices by tying the amount the government pays for some medicines to lower prices abroad.
Trump also said he will seek to "cut out" pharmacy benefit managers.
Cigna (CI) was among the companies in the pharmaceutical industry taking a hit from the news, down 6.2% intraday as intraday trading volume increased to 2.33 million from a daily average of about 1.78 million.
Price: 4.32, Change: -1.87, Percent Change: -30.18
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