Why Selecta Biosciences Tumbled 34% Today
After the company reported its gout drug, SEL-212, failed to meet its primary endpoint in a mid-stage clinical trial, shares in Selecta Biosciences (NASDAQ: SELB) traded 33.5% lower on Thursday.
The biotech stock licensed SEL-212 -- a combination of Selecta's synthetic vaccine particles encapsulating rapamycin and pegadricase -- to Swedish Orphan Biovitrum (OTC: BIOVF), or Sobi, earlier this year.
Source Fool.com