DCOY is trading at $7.15 (-6.2%) in after-hours trading, reversing a portion of the gains seen during the July 1 session.
- The stock's earlier strength followed news that Decoy Therapeutics secured up to $21 million to fund clinical trials for its lead respiratory-illness programs.
- With no new company-specific announcements to explain the move, the decline appears to be profit-taking or a technical retracement following the prior spike.
- Broader market pressure may have also played a role, as the Nasdaq closed the regular session down 0.97%.