Why Is Aadi Bioscience (AADI) Stock Down 56% Today?


  • Aadi Bioscience (AADI) stock is falling on Friday alongside interim study data.
  • The company provided response rates from its PRECISION1 clinical trial.
  • Unimpressed investors are selling AADI stock this morning.
AADI Stock - Why Is Aadi Bioscience (AADI) Stock Down 56% Today?

Source: shutterstock.com/Romix Image

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!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risk.

Read More:Penny Stocks — How to Profit Without Getting Scammed

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/12/why-is-aadi-bioscience-aadi-stock-down-56-today/.

©2024 InvestorPlace Media, LLC