FSDC - Biotech Gemini Therapeutics sinks 7.6% on first trading day but CEO says it's still a good stock

Biotech stock Gemini Therapeutics (GMTX) fell nearly 8% on its opening day of Nasdaq trading Monday following a merger with a SPAC, but CEO Jason Meyenburg isn’t worried. “If there were some real event that were driving the company down a little bit in price today, I think [that’d be] something to talk about,” Meyenburg told Seeking Alpha in an interview. “But honestly, the way I look at this is we’re [just] young and early in our story.” GMTX closed its first post-merger trading session at $12.10, down 7.6% on the day. The decline came after the company formally merged Friday with FS Development Corp. (FSDC), a SPAC sponsored by Foresite Capital. Foresite launched FSDC last summer through an initial public offering that raised more than $100 million, selling shares at $10 each. FS Development began trading on the Nasdaq last August, rising 3% on its first trading day to

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Biotech Gemini Therapeutics sinks 7.6% on first trading day, but CEO says it’s still a good stock