Here's Why AnaptysBio Is Imploding Today
Shares of AnaptysBio (NASDAQ: ANAB), a pre-commercial-stage biotech focused on inflammation, splattered all over the pavement after the company told investors its lead candidate, etokimab, failed to provide a significant benefit during an important study. An angry stock market has pummeled the stock 71% lower as of 12:16 p.m. EST on Friday.
Etokimab was supposed to reduce inflammation by inhibiting IL-33, an unproven target for any autoimmune disorder. Top-line data from the 300-patient phase 2b Atlas study showed that there wasn't any measurable improvement among eczema patients treated with etokimab for 16 weeks versus a placebo group.
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Source Fool.com
