Forte Biosciences plunges after scrapping plans to develop main drug candidate
03/09/2021 10:34
** Shares of biotech developing skin disease treatments
FBRX.O tumble 80.5% to $5.57 premarket - set for record low
level
** One of top three pct losers across exchanges before
opening bell; 2.6x 25-DMA shares traded
** Co's mid-stage trial for FB-401, its experimental
treatment for eczema, failed to meet its main goal urn:newsml:reuters.com:*:nBw8ktgla
** FBRX says it will not continue with further clinical
trials of topical treatment, which was its only drug candidate
** Brokerage Truist Securities downgrades to "hold" from
"buy"
** Up to Thursday's close, stock had fallen 21.5% YTD
(Reporting by Ruhi Soni in Bengaluru;)
((Ruhi.Soni@thomsonreuters.com;))