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.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.