Both Nasdaq- and Hong Kong-listed shares in Chinese health-related companies have been free falling with heavy volumes, after foreign investors spooked by China's general crackdown on the tech sector rushed to exit. The two-day sell-off shows high uncertainty and investors' anxiety over the regulatory overreach but underlying fundamentals still seem strong.

First DIDI, then other recently US-listed tech companies and now biotech companies are seeing share drops as China widens its cybersecurity reviews. But investors are also seeing other corrections from recent highs.

Mirati executives are still being pushed to defend the safety profile for the KRAS G12C inhibitor adagrasib, which has been seen as a potential disadvantage relative to Amgen’s Lumakras.

Plus deals involving Zai Lab/MacroGenics, Ono/Rafael Pharmaceuticals, Beijing Podconley/Norgine, Nuance/Verona and BeiGene/Shoreline.