Celularity Inc. shares drop 40.36% intraday after reporting a 53% decline in Q2 revenue and a 278% increase in net loss.

Celularity Inc. plunged 40.36% intraday, following the release of its second-quarter financial report showing a 53% year-over-year decline in revenue to $5.74 million and a 278% increase in net loss to $24.5 million. The company also faces legal issues, including a court order to pay $350,000 in debt disputes and a lawsuit demanding $946,000 in clinical fees. The stock has seen a cumulative decline of 32.29% over the past five days, continuing a technical correction trend.