Daily close, T-120 (11/27/24) through T+5. Run-up high $103.79 on 12/17/24, low $75.97 on 5/9/25 (T-120 to T-1). FDA decision 5/14/25. Historical price action, not a forecast.
Positioning before the decision
On Apr 30, 2025, 14 days before the decision date, at-the-money options priced a move of ±5.5% through May 16, 2025 (the first listed expiry after the decision; ATM implied volatility 33%). The stock closed -4.1% at the first close across the decision and +1.7% five trading days on. A straddle priced weeks out covers ordinary movement plus the event, so this is the move the options market priced through that expiry, not the event-implied move alone. How this compares across 1,000+ decisions.
Decision facts
FDA decision date2025-05-14
DrugWELIREG (belzutifan)
IndicationAdvanced Pheochromocytoma and Paraganglioma (PPGL)
Yes. The FDA approved the application for WELIREG (belzutifan) on May 14, 2025. The primary source is linked on this page.
What was WELIREG (belzutifan) under FDA review for?
The application covered Advanced Pheochromocytoma and Paraganglioma (PPGL). The FDA approved the application on May 14, 2025.
How did MRK stock react to the FDA decision?
On the decision day MRK moved -4.1%. That is the recorded reaction to this specific event -- historical measurement, not a prediction, and not investment advice.