01:46 PM EDT, 10/31/2024 (MT Newswires) -- Matinas BioPharma ( MTNB ) said Thursday that it will slash its workforce by 80% and has halted all product development activities to conserve cash.

Shares slumped 69%, with intraday trading volume at over 2.1 million compared with a daily average of about 45,000.

Equillium ( EQ ) shares tumbled 37% amid heavy trading after the company said Thursday that Ono Pharmaceutical decided to let expire an option to acquire Equillium's ( EQ ) rights to itolizumab.

More than 1.3 million shares of Equillium ( EQ ) traded intraday compared with a daily average of about 153,000.

Estee Lauder's ( EL ) shares slumped after the company withdrew its fiscal 2025 guidance amid "incremental uncertainty on timing of stabilization" in China and Asia travel retail. The company also lowered its quarterly dividend.

Shares retreated 20% as intraday trading volume jumped to over 20.2 million from a daily average of roughly 4.1 million.

Price: 0.60, Change: -1.33, Percent Change: -68.91