Why Are Pieris Pharmaceuticals Shares Tanking Today
Portfolio Pulse from Vandana Singh
Pieris Pharmaceuticals announced that partner AstraZeneca has decided to discontinue and cease dosing in the ongoing clinical studies of elarekibep, an asthma drug, due to lung findings from a non-clinical toxicology study. Pieris will review the implications of the data and AstraZeneca's decision on the program.
June 21, 2023 | 1:41 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
AstraZeneca has decided to discontinue and cease dosing in the ongoing clinical studies of elarekibep, an asthma drug, due to lung findings from a non-clinical toxicology study.
AstraZeneca's decision to discontinue clinical studies of elarekibep may have a negative impact on its stock price in the short term, as it could lead to a loss of potential revenue from the drug. However, the impact may be less significant compared to Pieris Pharmaceuticals, as AstraZeneca has a more diversified portfolio.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Pieris Pharmaceuticals' partner AstraZeneca has discontinued clinical studies of elarekibep, an asthma drug, due to lung findings in a non-clinical study.
AstraZeneca's decision to discontinue clinical studies of elarekibep directly impacts Pieris Pharmaceuticals, as it was a partnered program. This decision may negatively affect Pieris' stock price in the short term, as it could lead to a loss of potential revenue and a need to review corporate priorities.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100