Replimune (NASDAQ:REPL) stock is falling hard on Tuesday after the clinical-stage biotechnology company shared a primary analysis of its CERPASS trial.
This trial is evaluating RP1 alongside cemiplimab in the treatment of locally advanced or metastatic cutaneous squamous cell carcinoma. Unfortunately, the study failed to meet either of its two primary endpoints.
Philip Astley-Sparke, CEO of Replimune, is remaining positive despite the clinical trial results.
“Data from across our skin cancer program clearly show that RP1 is an active agent both as monotherapy and in combination with anti-PD1 therapy in multiple settings, giving us further confidence in the potential of RP1 to be an important treatment option for skin cancer patients.”
However, investors in REPL stock aren’t sharing the CEO’s confidence.
REPL Stock Movement Today
Today’s study news has REPL stock seeing heavy trading as investors sell the shares. As of this writing, more than 7 million shares of REPL have changed hands. That’s already a massive jump over the company’s daily average trading volume of about 803,000 shares.
REPL stock is down 48% as of Tuesday morning and is down 75.7% since the start of the year.
Investors looking for even more of the most recent stock market stories today will want to stick around!
We have all of the hottest stock market news that traders are going to want to read about on Tuesday! A few examples include a stock market crash warning, Starbucks (NASDAQ:SBUX) stock continues to fall and what’s going on with Mullen Automotive (NASDAQ:MULN) stock today. You can catch up on all of these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
