Key Highlights

  • Iovance is down 35.35% at $9.57 after updated lung cancer data showed a 24.6% response rate and a 2027 filing plan.
  • Baird Medical and Lakewood-Amedex, at $0.1923 and $0.2295, are both lower with no dated release on the day.
  • Coherus Oncology is down 21.88% at $0.91, a day after interim esophageal cancer data showed a 75% confirmed response rate.
  • Alnylam is down 19.01% at $188.23 even though third-quarter revenue grew 17% to $1.458 billion.
  • The five declines cover a range of 16.34 percentage points, from 35.35% to 19.01% (calculated).

Which Healthcare and Biotech Stocks Are Falling Today, and What Explains the Moves?

Five healthcare and biotech stocks are trading lower on Thursday, October 29, 2026, ranked here by the exact size of the percentage drop from the prior close. Iovance Biotherapeutics (NASDAQ:IOVA) is down 35.35% at $9.57 after updated lung cancer data. Baird Medical Investment Holdings (NASDAQ:BDMD) is down 23.08% at $0.1923 with no dated release on the move. Coherus Oncology (NASDAQ:CHRS) is down 21.88% at $0.91 after interim esophageal cancer data. Lakewood-Amedex Biotherapeutics (NASDAQ:LABT) is down 19.47% at $0.2295 with no dated release on the move, and Alnylam Pharmaceuticals (NASDAQ:ALNY) is down 19.01% at $188.23 after third-quarter results.

Three of the five change hands under $1 a share, and only Alnylam posted results on the day itself. The sections below set out what each company has said and what is still unexplained.

1. Iovance: Did the Lung Cancer Update Shift the Outlook?

Iovance trades 35.35% lower at $9.57, down from an implied prior close of about $14.80 (calculated). The same day it released updated IOV-LUN-202 results for lifileucel in second-line non-squamous lung cancer, showing a 24.6% response rate across 69 patients, compared with 25.6% in an earlier cut of 39. The release does not address the share move.

Response was 43.3% in KRAS wild-type patients and 11.4% in KRAS-mutant patients. A supplemental application is now planned for 2027 along with a biomarker-focused strategy, and on September 29 the company raised 2026 revenue guidance to $410 million to $420 million. At this price the implied market value is close to $4.3 billion (calculated).

2. Baird Medical: What Is Pushing This Penny Stock Lower Again?

Baird Medical trades 23.08% lower at $0.1923, down from an implied prior close of roughly $0.25 (calculated). No dated release came with the decline. The most recent news was approvals in Vietnam and Egypt announced on October 19, and the stock closed at $0.4816 on October 20, so today's price is about 60% lower (calculated).

First-half 2026 revenue grew roughly 24.6% to about $9.9 million, with a gross margin of 87.0% and net income of $13,499. The implied market value is close to $8.1 million (calculated), and any financing or Nasdaq bid price notices are among the items to watch.

3. Coherus Oncology: Does a 75% Response Rate in Eight Patients Settle the Question?

Coherus trades 21.88% lower at $0.91, down from an implied prior close of roughly $1.16 (calculated), a day after interim tagmokitug data came out following the close on October 28. First-line esophageal cancer patients showed a 75% confirmed response rate (6 of 8 evaluable), or 89% (8 of 9) after later confirmations. The cohort is small, and durability is still an open question.

The second-line esophageal cohort at 700 mg responded at 16.7% (1 of 6). Cash and marketable securities were $105.3 million on June 30, compared with $172.1 million at year-end 2025, and the implied market value is around $141 million (calculated).

4. Lakewood-Amedex: How Far Does the Cash Stretch?

Lakewood-Amedex trades 19.47% lower at $0.2295, down from an implied prior close of about $0.285 (calculated), with no dated release on the move. Its quarterly report for June 30 shows $2,584,774 in cash plus $2.0 million in certificates of deposit and a quarterly net loss of $3,772,008. The filing expresses substantial doubt about its ability to continue as a going concern, with liquidity expected to carry into the first quarter of 2027.

A September 18 filing registers up to 4,512,400 common shares for resale on conversion of Series C preferred stock, and the last sale price cited was $1.86 on September 17. Its main program, Nu-3 gel, is in a Phase 2a study for mildly infected diabetic foot ulcers, and no product has approval.

5. Alnylam: Why Is the Stock Off 19% After a Revenue Beat?

Alnylam trades 19.01% lower at $188.23, down from a $232.40 prior close, on the day it posted third-quarter results. Total revenues grew 17% to $1.458 billion, above a market estimate of about $1.43 billion, and Amvuttra sales grew 65% to $1.130 billion. The release gives no explanation for the decline, and a research firm cut its rating the same day with a $225 price target.

Net income of $2.167 billion included a tax benefit of about $1.9 billion, against pre-tax income of $295.8 million. Full-year guidance was reiterated, and the implied market value is close to $25.2 billion (calculated).

Healthcare Decliners Side by Side: How Wide Are the Gaps in Moves and Company Size?

The distance between the biggest and smallest decline is 16.34 percentage points, Iovance at 35.35% against Alnylam at 19.01% (calculated). Baird Medical and Coherus Oncology are 1.20 points apart, and Lakewood-Amedex and Alnylam differ by only 0.46 points (calculated).

On implied market values, Alnylam at about $25.2 billion is roughly 5.9 times Iovance at about $4.3 billion (calculated). Iovance's price dropped about $5.23 a share from its implied prior close, while Alnylam's dropped $44.17 from $232.40 (calculated). Only Iovance, Coherus Oncology and Alnylam have a release tied to the day or the day before; Baird Medical and Lakewood-Amedex have none.

What to Watch Next: November 5 and 9 Earnings, Plus Thyroid and Heart Meetings

Iovance reports third-quarter results on Thursday, November 5, 2026, with Coherus Oncology following on Monday, November 9, 2026. Baird Medical plans to attend the American Thyroid Association meeting in Philadelphia from November 4 to 7. Alnylam's two-year HELIOS-B extension data are due at the American Heart Association meeting from November 6 to 9, and a decision on partnered cemdisiran is targeted for November 2026. Lakewood-Amedex's next filing is its quarterly report for the period ended September 30, 2026.