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Source: ShutterstockImmunic (NASDAQ:IMUX) stock is plummeting on Friday after the company reported a high placebo rate in a Phase 1b clinical trial.
This trial is currently ongoing and is testing the effectiveness of IMU-935 in patients with moderate-to-severe psoriasis. This treatment is being compared to a placebo and the study is a blind one.
The problem affecting IMUX stock is Psoriasis Area and Severity Index (PASI) reductions in the trial. While IMUX saw its expected reduction from IMU-935, it also, unexpectedly, saw a similar reduction in the placebo group.
Daniel Vitt, Ph.D., president and CEO of Immunic, said the following about the clinical trial data.
“Although we did not see the desired activity signal over placebo in this group-level interim analysis, we retain a high degree of conviction on IMU-935’s potential promise in psoriasis and beyond. We believe IMU-935 holds the potential to provide a safe, efficacious and meaningful treatment option to patients with psoriasis.”
IMUX Shareholders Are Shaken
The effects of today’s data on investors in IMUX stock are easy to see. Heavy trading is taking place as investors sell off shares of the stock. As of this writing, more than 11 million shares have changed hands. That’s a massive jump from its daily average trading volume of 2.5 million shares.
To go along with that, shares of IMUX stock are down 76.5% as of Friday morning.
Investors looking for all of the latest stock market news will want to stick around!
We’ve got all of the hottest stock news traders need to know about for Friday. Among that is what has shares of Revlon (NYSE:REV), Verizon (NYSE:VZ), and Plug Power (NASDAQ:PLUG) stock on the move today. You can find out more on these matters at the following links!
More Friday Stock Market News
- Dear Revlon (REV) Stock Fans, Prepare for Delisting
- Verizon (VZ) Stock Slumps Despite Earnings Beat
- Plug Power (PLUG) Stock Has a New $5 Billion Catalyst
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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