Im­mune De­sign buries its PhI­II work on can­cer, and in­vestors hit the pan­ic but­ton

More than a year af­ter tout­ing some ear­ly glim­mers of suc­cess for a com­bi­na­tion of their drug CMB305 and Tecen­triq (ate­zolizum­ab), Im­mune De­sign is throw­ing in the tow­el af­ter de­ter­min­ing that their on­go­ing Phase II pro­gram is head­ed to fail­ure.

In­vestors are not in the least pleased with the change­up for CMB305, their lead drug. The biotech’s shares $IMDZ shed half their val­ue af­ter the de­ci­sion was an­nounced.

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