Here's Why Shares of This Gene Editing Pioneer Are Collapsing Today
Shares of Precision BioSciences (NASDAQ: DTIL) fell as much as 51.4% today after the company announced updated data from its lead drug candidate at the annual meeting of the American Society of Hematology (ASH).
The preliminary results for PBCAR0191 in relapsed/refractory non-Hodgkin's lymphoma (NHL) and B-cell precursor acute lymphoblastic leukemia (B-ALL) were relatively impressive. In fact, shares initially rose as much as 20.4% on Monday before tumbling down to a loss of about 50%. Investors appear to be concerned with the durability of patient responses.
Shares had tripled in the five-week period dating back to the beginning of November. The stock is giving up a lot of those gains, which makes today's loss appear worse than it might have been otherwise. As of 2:41 p.m. EST on Monday, the pharma stock had settled to a 50.1% loss. Even with today's tumble, shares have increased 50% since the beginning of November.
Source Fool.com
