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Futures fell as AI leaders Micron, Sandisk and more keep sliding. Home Depot beat views while Google I/O kicks off.
Shares of Regeneron Pharmaceuticals are down about 11%, dragging the Nasdaq composite, after the company’s experimental melanoma drug failed a pivotal clinical trial. The company said that its drug fianlimab, when combined with an approved cancer drug, didn't keep patients’ disease from worsening significantly longer than Merck’s Keytruda.
Shares tumbled after the drugmaker said a late-stage clinical trial of a skin cancer medication fell short of its target.