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Merck Stock Rises Despite Lung Cancer Drug Setback Ranking 87th in Trading Volume
Generated by AI AgentAinvest Volume Radar
Thursday, May 29, 2025 8:00 pm ET1min read
On May 29, 2025,
, Inc. (MRK) saw a trading volume of $822 million, ranking 87th in the day's stock market activity. The company's stock price increased by 0.30%.Merck and Daiichi Sankyo have withdrawn their request for U.S. approval for a lung cancer drug. This decision comes after the companies faced regulatory hurdles and decided to reassess their strategy. The withdrawal of the Biologics License Application (BLA) for the lung cancer drug has raised concerns among investors about the future prospects of the drug and its potential impact on Merck's revenue.
This development has led to a drop in Merck's stock price, as investors react to the uncertainty surrounding the drug's approval. The withdrawal of the BLA is a setback for
, which has been investing heavily in its oncology portfolio. The company will now need to address the regulatory issues and provide more clarity on the drug's development path.
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