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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