PREMARKET MOVES | Roivant Rallies 24% on Trial Data; Novartis Sinks 12% After Phase 3 Miss

According to CNBC, Roivant Sciences shares rallied 24% premarket after the pharmaceutical company said Phase 2 trial results for subsidiary Pulmovant's mosliciguat showed a clinically meaningful and statistically significant placebo-adjusted reduction in pulmonary vascular resistance in patients with pulmonary hypertension associated with interstitial lung disease. Novartis tumbled 12% after Phase 3 results showed its del-desiran drug produced no significant improvement in patients with myotonic dystrophy type 1. Lockheed Martin ticked 0.7% higher after UBS upgraded the stock to buy from neutral, citing underappreciated earnings growth potential. Peloton Interactive slid more than 4% after Morgan Stanley downgraded the stock to underweight from equal weight, saying Peloton faces structural headwinds in fitness. Boston Scientific slipped more than 2% after the medical device maker said a recent cyberattack likely impacted its sales and profit targets for 2026.