GNTA - Gene therapy developer Genenta stock tumbles 16%

Gene therapy developer Genenta Sciences (NASDAQ:GNTA), which went public in December, saw its stock tumble 16% on Tuesday. Shares of Genenta opened at $8.70, hitting a high of $9.33 early before slipping to a low of $5.33 in late morning. The stock recently changed hands at $6.69, down 16%, at approximately 12:15 p.m. ET. The Italian biotech company has been developing stem cell gene therapies for the treatment of cancerous solid tumors. Its lead product, Temferon, is in Phase 1/2 clinical testing for the treatment of an aggressive type of brain cancer known as glioblastoma multiforme. Genenta held it initial public offering on Dec. 15, pricing 2.4M American Depositary Shares at $11.50 per share, raising around $36M.

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Gene therapy developer Genenta stock tumbles 16%