Why Is Anti-Cancer Focused Aadi Bioscience Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
Aadi Bioscience Inc (NASDAQ:AADI) stock fell after interim results from its PRECISION1 trial of nab-sirolimus showed a 26% ORR for TSC1 alterations and 11% ORR for TSC2 alterations. The trial, with no new safety concerns, will complete by end of 2024, with results expected in early 2025. AADI shares dropped 56.24% to $2.35 in premarket trading.
December 15, 2023 | 2:15 pm
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NEGATIVE IMPACT
Aadi Bioscience's stock price plummeted following interim trial results for nab-sirolimus, which showed limited efficacy in treating tumors with TSC1 and TSC2 alterations.
The stock price of Aadi Bioscience dropped significantly due to the interim results from the PRECISION1 trial, which may have underwhelmed investors with an ORR of 26% for TSC1 and 11% for TSC2 alterations. The lack of new safety concerns is a positive, but the efficacy results seem to be the driving factor behind the negative stock movement. The impact is high as the trial results are critical for the company's future prospects and investor confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100