Why Shares of Dyne Therapeutics Dropped 18.1% on Tuesday
Dyne Therapeutics (NASDAQ: DYN) saw its shares slump 18.1% on Tuesday. The biotech stock closed on Friday at $9.29 a share, then opened on Tuesday at $7.82, falling to a new 52-week low of $7.61 in the afternoon. The stock is down more than 71% over the past year and is a long way from its 52-week high of $32.32.
The pharmaceutical company is developing a pipeline of therapies to treat serious muscle disorders, including myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy, and facioscapulohumeral muscular dystrophy (FSHD).
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Source Fool.com
