This Is Why Global Blood Therapeutics Inc. Is Sinking Today

In response to the company announcing data from a case study at the American Society of Hematology meeting in Atlanta, shares of Global Blood Therapeutics (NASDAQ: GBT), a clinical-stage biotech focused on blood-based disorders, fell 13% as of 3:15 p.m. EST on Tuesday.

Global Blood unveiled data from a study using its drug voxelotor (formerly called GBT440) as a hopeful treatment for severe sickle cell disease. The drug was provided on a compassionate use basis to seven patients who were not eligible to participate in the company's ongoing phase 3 HOPE trial. However, these seven patients were provided voxelotor and monitored over a 24-week period.

Here are the key takeaways from the study:

Source: Fool.com