PMGC Holdings Stock Falls on Formation of Defense Technology Unit

Dow Jones04-03

By Kelly Cloonan

Shares of PMGC Holdings declined after the company said it is forming a unit focused on defense technology, including drones and autonomous systems.

The stock fell 9.1% to $5.20 in after-hours trading on Thursday. Through market close, shares have slid 83% year to date.

The holding company said the new subsidiary, NorthStrive Defense Tech, is meant to help its efforts to acquire and license advanced defense technologies.

The move comes as growing defense spending, regulatory shifts and the rise of unmanned and autonomous systems transform the defense industry. Drone technologies in particular have become an increasingly important part of modern defense infrastructure across surveillance, logistics and tactical deployment, the company said.

Two of PMGC's other subsidiaries already engage with aerospace, defense and space companies. The company plans to accelerate commercialization through its existing customers with the development of the new unit.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

April 02, 2026 17:19 ET (21:19 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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