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Here's Why AnaptysBio Is Imploding Today

TheMotleyFool

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Here's Why AnaptysBio Is Imploding TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

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.

Image source: Getty Images.

Source Fool.com

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