1
Market Update for Week of May 2, 2025
The Week at a Glance:
Market Rebound Continues: Although the Nasdaq and S&P 500 recouped all of its losses since “Liberation Day” on April 2nd, the effect of policy changes in DC ranging from tariffs to agency cuts will most likely result in continued market volatility
FDA Delays First PDUFA Date: Stealth BioTherapeutics reported that its rare disease drug was delayed last week, reinforcing concerns many in the industry had that the Trump administration’s agency cuts will impede drug approvals
M&A Finally Sees Some Action: Last week saw two notable M&A transactions – Merck KGaA’s acquisition of the oncology focused SpringWorks Therapeutics and Novartis’ acquisition of Regulus Therapeutics’ nephrology pipeline
These transactions mark the first meaningful deal announcements since early April