Eli Lilly $LLY (-7.56%) is currently in the crossfire of criticism, as the EU Medicines Agency (EMA) has rejected approval for the Alzheimer's drug Donanemab. This decision is causing great concern, as the authority considers the risks of possible fatal side effects to outweigh the potential benefits of the drug. Donanemab was intended to help patients in the early stages of Alzheimer's disease by slowing down the progression of the disease. There is currently no approved drug in the EU that directly targets Alzheimer's, which makes the situation even more dramatic. Although Lecanemab has already received positive reviews, the uncertainty surrounding Eli Lilly remains. Surprisingly, the stock was up 0.63 percent at times on the NYSE to $826.83, showing that investors remain optimistic despite the challenges.
In the USA, Wolfspeed $WOLF (+7.49%) experienced a dramatic fall in its share price on Friday. The stock plummeted a massive 48.49 percent to USD 2.77, causing great concern among investors. One possible reason for this fall could be the appointment of a new CEO. Robert Feurle will take over as CEO on May 1 after interim CEO Thomas Werner resigned. Although Feurle brings experience from the industry, he will face the challenge of stabilizing the share price, which has fallen by more than 82% over the last twelve months, right from the start. Wolfspeed is also struggling with problems in the chip industry and political uncertainties, which are putting additional pressure on the situation and making investors nervous. The company's next steps will be decisive in regaining investor confidence.
Sources:
