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Applied Molecular crashes 38% after mid-stage data for ulcerative colitis therapy

The clinical-stage biotech Applied Molecular Transport (NASDAQ:AMTI) dropped ~38% in the pre-market Wednesday after the company said its lead candidate AMT-101 failed to outperform in combination with AbbVie’s (ABBV) blockbuster drug Humira in a Phase 2 trial for ulcerative colitis (UC).


Red arrow And dollar finance decline graph- Stock image

Baris-Ozer/iStock via Getty Images

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Comments (12)

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43% improvement vs 15% with the cohort that has UC less than 5 years. No competition. No toxicity. Thank whoever designed the trials for this one being presented as a failure. At least this opens up the possibility of a buy out.
Millennial Investment profile picture
@GCManage you can slice phase 2 data in so many ways and come up with something statistically significant.

Realistically, this data is most likely worthless and the company should trade under cash value due to continuing losses.

*Disclaimer- I’m only commenting on this molecule. I’m not familiar with the rest of AMTIs pipeline
nikit2h profile picture
@Millennial Investment
Realistically, this data is really valuable because it is pathway for
Phase 3
Orchid Research profile picture
@nikit2h -30% suggests no phase 3, no nada.
Lawrence Dickman profile picture
AlphaMove profile picture
Their cash burn per quarter north of 32M, while their cash in the bank is dwindling fast are an added issue.
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