NuCana (NASDAQ:NCNA) stock is sliding lower on Tuesday as the clinical-stage biopharmaceutical company prepares for a presentation this week.
NuCana is set to attend the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics 2023 in Boston, Massachusetts. This conference starts on Wednesday and will last through Sunday.
NuCana will be holding multiple presentations at the event. That includes updates on its clinical trials, as well as information from other studies the company is conducting. Two of these presentations will take place on Friday, and the other two will take place on Saturday.
Breaking down those topics further, NuCana intends to cover NUC-3373 in combination with irinotecan, its Phase II study of NUC-3373, its Phase Ib/II study of NUC-3373 in combination with pembrolizumab and NUC-7738 in combination with pembrolizumab.
How This Affects NCNA Stock Today
Typically, investors might expect shares of a company’s stock to rally ahead of a presentation, but we aren’t seeing that with NCNA stock on Tuesday. Instead, NuCana stock is taking a 3.1% beating as of this writing. Investors will also note that these shares are down 23% year-to-date as of Monday’s close. However, the presentations could become a positive catalyst for those shares.
NCNA stock isn’t seeing much in the way of trading today. Only about 1,000 shares have changed hands as of Tuesday morning. For the record, its daily average trading volume is closer to 44,000 shares.
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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.
