CEO Hamza Suria (AnaptysBio)

Anap­tys­Bio takes a beat­ing as its lead drug fails its first PhII test. And 5 more tri­als are near­ing a read­out

Anap­tys­Bio shares got ham­mered Mon­day morn­ing af­ter the biotech con­ced­ed de­feat for the first mid-stage test of its lead drug.

Its an­ti­body im­si­dolimab per­formed around as well as a place­bo in fight­ing se­vere pal­mo­plan­tar pus­tu­lo­sis, fail­ing to sep­a­rate mean­ing­ful­ly from a sug­ar pill on 4 sep­a­rate points in a 16-week study.

The stock $ANAB got hit ear­ly and hard, falling 35% ahead of the bell at the start of the week. The stock has slid pre­cip­i­tous­ly over the past 3 years, los­ing about 85% of its once high-fly­ing val­u­a­tion.

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