GMTX - Gemini Therapeutics shares continue fall following phase 2 AMD study results

sefa ozel/E+ via Getty Images Shares of Gemini Therapeutics (GMTX) are down 29% in afternoon trading after releasing initial data after the bell yesterday from a phase 2 trial of its geographic atrophy ("GA") secondary to age-related macular degeneration ("AMD") candidate GEM103. However, Stifel analysts defended the stock today, maintaining a buy rating and saying the market reaction was overdone. They said the results came in as expected. The company is aiming to release six-month dosing data for GEM103 in its wet AMD trial in Q4.

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Gemini Therapeutics shares continue fall following phase 2 AMD study results