TAK - Morphic Therapeutic's Stock Plunges On Monday - Here's Why? | Benzinga
Since Friday, Morphic Therapeutic (NASDAQ: MORF) shares have plunged from $47.92 to $26.25 after the company announced the publication of an abstract discussing new EMERALD-1 phase 2a primary results at United European Gastroenterology Week.
New data from the Phase 2a EMERALD-1 study showed that Morphic Therapeutic's investigational ulcerative colitis pill MORF-057 induced endoscopic improvement. At 12 weeks, 25.7% of treated patients demonstrated endoscopic improvement; however, investors were underwhelmed.
Clinical ...