ADAP - Why Adaptimmune Therapeutics Stock Is Sinking Today
Adaptimmune Therapeutics (NASDAQ: ADAP) , a clinical-stage cancer specialist, is having another off day today. Specifically, the biotech's shares are down by 16.8% as of 10:55 a.m. EDT Friday morning. For the week, Adaptimmune's stock is now down by over 20%.
What's behind this sudden downturn? Earlier today, Adaptimmune announced the early release of an abstract for an upcoming presentation at the virtual Society for the Immunotherapy of Cancer conference on Nov. 11, 2020. While the abstract implies that the company's SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell therapy, ADPA2M4CD8, may sport anti-tumor activity in both head and neck cancer, as well as esophagogastric junction cancer, investors apparently wanted even more from this next-generation cell therapy.
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Why Adaptimmune Therapeutics Stock Is Sinking Today