02:13 PM EDT, 08/28/2025 (MT Newswires) -- Outlook Therapeutics ( OTLK ) said Thursday the US Food and Drug Administration has issued a complete response letter to its resubmitted biologics license application for ONS-5010 to treat wet age-related macular degeneration.

The letter indicated that the FDA cannot approve the application in its present form.

Shares sank 53% following a rise in intraday trading volume to over 58 million from a daily average of about 1.54 million.

Cel-Sci ( CVM ) shares slumped 28% after the company priced a best-efforts public offering of about 1.1 million shares at $9.00 apiece. The stock closed at $13.04 Wednesday.

Intraday trading volume rose to over 1.06 million shares from a daily average of about 813,000.

Hormel Foods ( HRL ) cut its full-year earnings outlook as fiscal Q3 profit unexpectedly fell amid rising commodity input costs.

Shares dropped 13% as intraday trading volume grew to more than 11.6 million from a daily average of roughly 3.3 million.

Price: 1.09, Change: -1.29, Percent Change: -54.32