Here's Why Bicycle Therapeutics Stock Looks Ill Today
The market yanked the rug out from under Bicycle Therapeutics (NASDAQ: BCYC) this morning in response to disappointing clinical trial results. Investors concerned about the company's experimental cancer treatments pushed the stock 29% lower as of 10:36 a.m. ET on Monday.
Bicycle Therapeutics is a pre-commercial biotech advancing an all-new way to treat cancer. The company could be the first to market with bicyclic peptides, which can carry a chemotherapy agent to cells that express signs of tumor growth.
Today, the market is reacting to data from the phase 1 portion of a two-part trial with a nectin-4 directed bicycle called BT8009 in advanced-stage bladder cancer patients. Once one side of BT8009 enters nectin-4 positive cells, it releases a chemotherapy agent called monomethyl auristatin E (MMAE).
Source Fool.com
