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.

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