Chemomab Therapeutics Reveals Data From Mid-Stage Study For Liver Disease Candidate, Stock Plunges On Capital Raise
Portfolio Pulse from Vandana Singh
Chemomab Therapeutics (NASDAQ:CMMB) released positive Phase 2 trial results for its liver disease treatment, CM-101, but the stock fell 14.80% due to a $10 million capital raise.
July 25, 2024 | 5:53 pm
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Chemomab Therapeutics released positive Phase 2 trial results for CM-101, showing safety and efficacy in treating primary sclerosing cholangitis. However, the stock dropped 14.80% due to a $10 million capital raise.
Despite positive trial results, the stock price fell due to the announcement of a $10 million capital raise, which often dilutes existing shares and can lead to a short-term negative impact on stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100