EL7.AI
StocksUpdated•Originally published 12 June 2026•Updated 13 June 2026•
2 min read

Market Movers: GSK to Acquire Nuvalent for $10.6B as EHang Plummets on Earnings Miss

Key Facts

1Horizon Space Acquisition II announced the closing of its business combination with SL BIO to form SL Science Holding, trading as SLBT from June 15, 2026.
2Momentus Inc. shares dropped 26.69% to $11.95 on heavy trading volume exceeding 10 million shares.
3Astrotech, Destiny Tech100, and the SATG ETF saw declines driven by sector volatility and profit-taking.

In a move reflecting the accelerating consolidation within the healthcare sector to bolster specialized drug pipelines, GSK has agreed to acquire Nuvalent, Inc. for $10.6 billion. According to reports, this strategic acquisition is designed to significantly strengthen GSK's oncology portfolio. Meanwhile, the broader market faced sharp volatility in growth sectors, as EHang Holdings shares plunged 23.31% following first-quarter results that missed analyst expectations due to a steep decline in aircraft sales.

These developments coincide with divergent performance across mid-cap and specialized equities, where Leslie's, Inc. shares surged 59.45% to $8.18 amid intense trading momentum. Conversely, Sadot Group Inc. saw a 34.24% decline as the company continues to struggle with negative profitability metrics. Per market data, the GSK-Nuvalent deal aligns with a broader trend of pharmaceutical giants acquiring biotech innovators to mitigate upcoming patent cliffs, a theme prevalent across peer earnings this season.

Traders are currently monitoring Leslie's stock at the $8.18 level (close June 12, 2026) to determine if the recent momentum has further upside. Looking ahead to the economic calendar, the market will focus on the Fed's Barr speech on June 16, 2026, which serves as a critical catalyst for risk appetite in high-growth sectors following the recent liquidation seen in EHang and other speculative tech instruments.