Molecular Partners shares tumble 37% after Amgen returns rights to tumor treatment candidate
Shares of Molecular Partners Inc. slid 37.3% in premarket trading on Wednesday, the day after the company said Amgen Inc. returned the global rights to an investigational immuno-oncology therapy currently in a Phase 1 clinical trial targeting solid tumors. Amgen's stock was up 0.3% in the premarket on Wednesday. Molecular said it will seek new partners. Molecular's stock is down 55.4% this year, while the broader S&P 500 has declined 12.4%.
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