Lower open as oil retreats

The markets opened lower with the Dow falling 44 points to 16,049 as crude oil prices retreated. Nasdaq slipped 7 points to 4,583.

On the upside

Affimed (Nasdaq: AFMD) entered a clinical research collaboration with Merck (NYSE: MRK) to conduct a clinical trial combining Merck’s anti-PD therapy, KEYTRUDA, with Affimed’s bispecific antibody targeting CD30, AFM13.

The Wall Street Journal reported that SunEdison (NYSE: SUNE) will add Greenlight Capital’s David Einorn to its Board.

Several members of Aeterna Zentaris’ (Nasdaq: AEZS) executive management team including chief executive David A. Dodd purchased shares of company stock last week.

On the downside

An independent data safety monitoring board told OncoMed Pharmaceuticals (Nasdaq: OMED) that its pancreatic cancer treatment tarextumab was not improving survival.

Profit taking weighed down shares of WestRock (NYSE: WRK).

Eldorado Gold (NYSE: EGO) warned of a significant impairment charge of approximately $1.2-$1.6 billion related to its Greek assets and expects lower gold output in 2016.

In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 dropped 10 points to 1,896. Bitcoin lost $2 to $398.

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