NextCure disclosed on January 13, 2020 that Eli Lilly and Company had ended its collaboration agreement for the research and development of NC318, Nextcure’s leading product candidate, a first-in-class immunomedicine targeting the Siglec-15 immunomodulatory receptor, particularly for patients with advanced or metastatic solid tumors.
On January 13, 2020, Nextcure’s share price fell $4.70, or 8%, on this news, to close at $52.00 per share, injuring investors.
Then, on July 13, 2020, before the market opened, NextCure announced that it was no longer planning to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial.” Nextgen announced the resignation of its Chief Medical Officer on the same day.
On July 13, 2020, Nextcure’’s share price fell $9.73, or 54%, on this news to close at $8.15 per share, injuring investors further.
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