$EBIO Tale of the Tape

0
578

Eleven Biotherapeutics (EBIO) in Focus: Stock Tanks 69.2% – Tale of the Tape

Eleven Biotherapeutics, Inc. (EBIO) saw a big move in the last trading session, as the company’s shares fell by over 69% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for EBIO, as the stock is now down nearly 69% since May 1.

On May 18, the company disclosed that its lead drug candidate, EBI-005, failed a Phase 3 study to treat dry eye disease.

Although this slump was obviously disappointing, the clinical-stage biopharmaceutical company has seen 1 positive revision and its current year loss consensus has narrowed over the past few weeks. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

LEAVE A REPLY

Please enter your comment!
Please enter your name here