Here's Why AnaptysBio Shares Are Slipping Today
Shares of AnaptysBio (NASDAQ: ANAB), a clinical-stage biotechnology company, fell in response to the imminent departure of Dominic Piscitelli, the company's CFO since 2017. Investors were worried that Piscitelli's resignation announcement signaled trouble for the company's lead candidate etokimab and pounded the stock 13.6% lower on Tuesday.
Over the past couple of years, AnaptysBio has shifted the focus for etokimab, a potential first-in-class IL-33 inhibitor, away from peanut allergy prevention and toward the treatment of eczema, chronic sinusitis, and asthma. Shifting focus isn't necessarily bad but it doesn't inspire confidence, either. In June, AnaptysBio shares fell after Regeneron (NASDAQ: REGN) announced disappointing results from a clinical trial with another IL-33 inhibitor.
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Source Fool.com