Cancer Focused-Aadi Bioscience Stock Plunges As Solid Tumor Trial Falls Short Of Expectations
Portfolio Pulse from Vandana Singh
Aadi Bioscience Inc. (NASDAQ:AADI) announced the halt of its PRECISION1 trial for nab-sirolimus in solid tumors due to insufficient efficacy for accelerated approval. The company will focus on cash preservation and its commercial product, Fyarro, while pausing new enrollments in other trials. Aadi's stock fell 14.8% following the news.
August 21, 2024 | 1:07 pm
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Aadi Bioscience halted its PRECISION1 trial for nab-sirolimus due to insufficient efficacy, impacting its stock negatively. The company will focus on cash preservation and its commercial product, Fyarro.
The halt of the PRECISION1 trial due to insufficient efficacy is a significant setback for Aadi Bioscience, leading to a 14.8% drop in stock price. The company's focus on cash preservation and Fyarro sales indicates a shift in strategy, which is critical for investors to note.
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