AnaptysBio slumps after abandoning eczema drug development

AnaptysBio

11/12/2024 16:20

** Shares of AnaptysBio  ANAB.O  fall as much as 38.5% to an
over one-year low of $14.20 
    ** Stock set for worst day since Nov 2019, if losses hold
    ** Co says it will discontinue development of its eczema
drug ANB032 after it failed to meet the goals of a mid-stage
trial
    ** Drug did not meet the main goal of a proportion of
patients achieving an at least 75% improvement of symptoms on an
eczema severity index
    ** ANAB will focus on the rest of its autoimmune portfolio,
which includes drugs for rheumatoid arthritis and a type of
inflammatory bowel disease - CEO
    ** Up to last close, stock down 30.6% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))