In the fiscal first quarter, Oracle experienced a slowdown in the growth of its cloud business compared to both the previous quarter and the same period last year. Despite this, the tech giant’s total revenue still managed to grow by 9% to $12.45 billion, in line with what analysts had predicted according to FactSet. However, investors were not impressed with the news, causing Oracle’s shares to sink by 9% to $115.31 after-hours on Monday.
Acelyrin’s Skin Drug Candidate Falls Short in Trial
Acelyrin, a company that recently went public in May, announced that one of its skin drug candidates did not achieve statistical significance for its primary endpoint by the end of a Phase 2b/3 clinical trial at week 16. Despite this setback, Acelyrin remains optimistic about its financial position, stating that it still has strong funding through important milestones for its other existing drug candidates. Nevertheless, investors were not reassured, resulting in Acelyrin’s shares falling by a significant 61% to $10.98 after-hours.
Humacyte Set to Release Top-Line Data for Vascular Trauma Repair Trial
Humacyte, a biotechnology company, has announced that it will reveal the top-line data from its Phase 2/3 trial, which evaluates the use of implantable bioengineered human tissue in vascular trauma repair. This highly-anticipated announcement is set to take place on Tuesday morning. In more positive news for Humacyte, a separate study on its technology’s effectiveness in treating chronic limb-threatening ischemia has yielded promising results. These developments have led to a 7.6% increase in Humacyte’s share price, which now stands at $3.98 after-hours.