01:58 PM EDT, 04/01/2024 (MT Newswires) -- Eiger BioPharmaceuticals ( EIGR ) said Monday the company and its direct subsidiaries have filed voluntary petitions for Chapter 11 protection in the US Bankruptcy Court for the Northern District of Texas.

Shares slumped nearly 73%, with intraday trading volume at over 715,000 versus a daily average of about 11,000.

Disc Medicine ( IRON ) said Monday topline results from a phase 2 trial of bitopertin in people with erythropoietic protoporphyria -- which causes painful photosensitivity -- showed that the candidate drug led to a "statistically significant" drop in protoporphyrin IX, or PPIX, which was the primary endpoint.

For the key secondary endpoint of cumulative time in sunlight on days without pain, people given bitopertin saw a "positive response" even though the endpoint failed to achieve "statistical significance due to strong placebo performance," Disc Medicine ( IRON ) said.

Shares sank more than 46% as intraday trading volume soared to more than 4.4 million from a daily average of about 290,000.

Biora Therapeutics ( BIOR ) said Monday it signed definitive agreements to sell more than 5.45 million shares at $1.10 apiece in a registered direct offering priced 'at-the-market' under Nasdaq rules.

Shares dropped almost 31%, with intraday trading volume at over 3.08 million compared with a daily average of about 386,000.

Price: 1.35, Change: -3.65, Percent Change: -72.28