Aadi Bioscience (NASDAQ:AADI) stock is falling on Friday following the release of interim clinical trial data from its PRECISION1 study.
This clinical trial covers the use of nab-sirolimus as a treatment for patients with TSC1 or TSC2 inactivating alterations. The study is still seeking patients and has 80 at the time of this report.
Aadi Bioscience notes that patients in the TSC1 arm of the study saw a 26% response rate. That includes five partial responses, four confirmed responses and a single unconfirmed response. There are 22 patients in this arm.
The TSC2 arm of the study has 18 patients and an 11% response rate. That comes from one confirmed response, two partial responses and a single unconfirmed response.
Loretta Itri, MD, Chief Medical Officer of Aadi Bioscience, said the following about the results:
“We are encouraged by the preliminary data from this pre-planned analysis and by the responses and clinical benefit demonstrated in advanced cancer patients who have failed an average of three prior lines of therapy.”
AADI Stock Movement Today
Unfortunately, investors aren’t as happy about these results. That has heavy trading sending AADI stock lower today. As of this writing, more than 600,000 shares have changed hands. That’s well above its daily average trading volume of about 128,000 shares.
AADI stock is down 55.5% as of Friday morning.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest market news that traders need to know about on Friday! A few examples include what’s happening with shares of Getaround (NYSE:GETR) stock, Aurora Tech (NASDAQ:ATAK) stock and the biggest pre-market stock movers this morning. You can catch up on all of that 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.
