AACR22: Ru­bius touts new da­ta for lead pro­gram, but shares rout­ed as in­vestors flee

Look­ing to build on its first cut of hu­man da­ta from last year, Ru­bius Ther­a­peu­tics is tout­ing new Phase I da­ta from its lead can­cer pro­gram in both sol­id tu­mors and acute myeloid leukemia. But the re­sults proved sore­ly dis­ap­point­ing to in­vestors af­ter ap­pear­ing to be less ef­fec­tive than the pre­vi­ous read­out.

Ru­bius’ shares plunged 40% once the da­ta hit, with trad­ing on the stock swift­ly halt­ed in the melee. The stock is down 86% over the past year, which has been bru­tal on biotechs.

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