Biotechs take a beating in first round of #AACR22 as weak data cripple share prices
NEW ORLEANS — A group of biotechs bravely made the trip to AACR22, looking to gain some favorable coverage with the data drop on the Friday ahead of the conference. But with one notable exception, the bears in charge of Wall Street sentiment blasted weak or merely encouraging data, further darkening an already ominous cloud lingering over the struggling biotech sector.
The roster of market losers was dominated by Rubius, with Zentalis, Genocea and C4 Therapeutics all getting beat up badly as well. Josh Schimmer at Evercore ISI counted eight small-to-mid cap companies putting up data for AACR on Friday.
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.