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Harpoon Therapeutics, Inc. stock is down over 55% since it released data on its most advanced early-stage program (HPN424 for metastatic castration-resistant prostrate cancer) in June 2020.
The company has a total of four early-stage programs, the most important of which is HPN217, into which AbbVie can opt-in for $200 million.
With an upgraded half-life versus its BiTE predecessors but significant competition from Amgen, Harpoon’s TriTAC platform and busted IPO stock merited a deeper dive.