NuCana Stock Plunges On Colorectal Combo Therapy Trial Setback, Ends Mid-Stage Study After Disappointing Data
Portfolio Pulse from Vandana Singh
NuCana plc (NASDAQ:NCNA) announced the discontinuation of its NuTide:323 study after disappointing data, leading to a significant stock drop. The study aimed to compare NUC-3373/NUFIRI-bev to FOLFIRI-bev for colorectal cancer. Despite the setback, other studies with NUC-3373 and NUC-7738 continue. William Blair downgraded the stock to Market Perform.
August 30, 2024 | 12:47 pm
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NuCana's stock plunged 52.3% after halting the NuTide:323 study due to disappointing results. The study's failure impacts investor confidence, leading to a downgrade by William Blair. However, other studies with NUC-3373 and NUC-7738 continue.
The discontinuation of the NuTide:323 study due to poor results directly impacts NuCana's stock, causing a significant drop. The downgrade by William Blair further affects investor sentiment. However, ongoing studies with other compounds may provide future opportunities.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100