The Dow Jones Industrial Average and the S&P 500 were basically flat, while the Nasdaq Composite was down in late-morning trading on the final day of the year.
Sangamo Therapeutics (SGMO) said late Monday it will regain full development and commercialization rights for its prospective hemophilia A gene therapy after Pfizer (PFE) opted to terminate its collaboration and licensing agreement with the company. The partnership between Sangamo and Pfizer will formally end in April 21, 2025, Sangamo said. Shares of Sangamo were down 53.8%, while those of Pfizer were up 0.2%.
Dave (DAVE) denied allegations by the Justice Department that it misled customers with advertisements of cash advances, calling the complaint a case of "government overreach." The Justice Department said Monday it filed a complaint against Dave and Chief Executive Jason Wilk alleging that the company lured customers to its personal finance app by promising cash advances of up to $500 that many did not receive. Dave shares were down 7.7%.
The Federal Housing Finance Agency's measure of home prices rose by 0.4% in October, matching expectations of a survey compiled by Bloomberg as of 7:35 a.m. ET. Prices were up 4.5% from a year earlier in October.
Price: 1.08, Change: -1.26, Percent Change: -53.76
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