Shares of Gritstone Bio (GRTS) are plunging today, down 64% due to disappointing news. The company announced that its experimental cancer vaccine did not meet its primary goal in a recent clinical trial. This setback has led to a significant drop in investor confidence, causing the stock to plummet.
Investors had high hopes for Gritstone Bio’s cancer vaccine, but the results of the trial were not as promising as expected. The company’s stock has taken a hit as a result, with many shareholders selling off their positions in response to the disappointing news.
Gritstone Bio is now faced with the challenge of regaining investor trust and finding a way to bounce back from this setback. The company will need to reassess its strategy and potentially make changes to its approach in order to recover from this significant drop in stock price.
Overall, the decline in Gritstone Bio’s stock price today can be attributed to the disappointing results of its recent clinical trial. Investors will be closely watching to see how the company responds to this setback and whether it can regain momentum in the future.