Shares of Nkarta (NASDAQ: NKTX) were down more than 34% as of 12:30 p.m. on Tuesday after the clinical-stage biotech announced disappointing trial results for an acute myeloid leukemia (AML) therapy.

Nkarta focuses on engineering allogeneic, off-the-shelf natural killer (NK) cell therapies to treat cancer, as a way to improve the body's immune response to cancer cells.

On Tuesday, the company announced early-stage results for AML therapy NKX101. The company said that among the six patients with relapsed/refractory AML, four achieved a complete response, including just two with complete responses with measurable residual disease negativity. The low response isn't a surprise since that frequently has been a problem for AML therapies.

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Source Fool.com