RUBY - Rubius shares soar 90% on solid tumor data Wainwright PT increase

Shares of Rubius Therapeutics (RUBY) closed up 84.4% to $30.29 on Monday.Earlier today, Rubius released phase 1/2 data on RTX-240, its candidate for solid tumors, that the company says validates its clinical platform.Results for RTX-240 in, respectively, anal cancer and metastatic uveal melanoma, showed a 54% and 100% tumor shrinkageH.C. Wainwright analyst Andrew Fein reiterated his buy rating and upped his price target to $40 from $28."We believe these initial data provide proof-of-concept for the RED PLATFORM, which is designed to engineer red blood cells  to mimic the human immune system and stimulate adaptive and innate immunity to generate clinical responses in cancer patients with refractory disease," Fein wrote.

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Rubius shares soar 90% on solid tumor data, Wainwright PT increase