These 5 Stocks Are Crashing Today

2. Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has slumped 21.3% as of 11:37 AM ET after the Newark, California-based biotech company revealed that the FDA might rescind the Breakthrough Therapy Designation that was awarded to Rusfertide in 2021 as a potential treatment against polycythemia vera (PV) in the reduction of erythrocytosis. The FDA has issued a letter of intent based on concerns that were first brought up in a clinical hold placed on the Protagonist Therapeutics, Inc.’s (NASDAQ:PTGX) drug candidate last year.

As of Q4 2021, Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was owned by 24 hedge funds.