02:20 PM EDT, 05/21/2025 (MT Newswires) -- Wolfspeed ( WOLF ) is preparing to file for bankruptcy in the coming weeks after rejecting creditor-led proposals to restructure its debt, which totals $6.5 billion, the Wall Street Journal reported Tuesday.

Shares sank 61% Wednesday afternoon, with trading volume of over 220 million against a daily average of about 28.6 million.

UroGen Pharma ( URGN ) shares tumbled 47% after the company said Wednesday its UGN-102 bladder cancer drug candidate failed to receive the backing of a US Food and Drug Administration advisory committee.

More than 6.17 million shares traded intraday compared with a daily average of about 796,000.

Moderna ( MRNA ) said Wednesday it has voluntarily withdrawn its Biologics License Application for mRNA-1083, its flu and COVID combination vaccine candidate for adults aged 50 and older.

Shares retreated 8.2% as intraday trading volume rose to more than 12.6 million from a daily average of roughly 10.5 million.

Price: 1.24, Change: -1.89, Percent Change: -60.38