Merck (MRK) shares fell 2.7% after the company sued the US government, claiming price negotiations under the Inflation Reduction Act violate the First and Fifth Amendments, as well as thwart innovation in the pharmaceutical industry. Hoth Therapeutics (HOTH) shares jumped almost 79% after the company said HT-ALZ, which is in development to treat Alzheimer's disease, achieved positive preclinical results that outpaced the company's previous study. Doximity (DOCS) said during its investor day on Tuesday that it targets to generate $1 billion in revenue in fiscal 2028.