A strange couple of days at Rubius
On Tuesday, the CEO of ex-unicorn Rubius Therapeutics told a crowd in London that the company was weeks away from presenting its first clinical results, data that would validate its sweeping plans to turn red blood cells into drugs. Then came yesterday, when Rubius said that, actually, the data won’t be ready until next year. Oh, and it has yet to treat a single patient.
You might wonder: What happened over the course of two days? A Rubius spokesperson explained the delay on an earlier manufacturing issue, since resolved, that led the company to lose “some momentum” with the study. A question about just when Rubius realized it needed to push back the timeline did not get a response.
Whatever the answer, the news isn’t going over well. Rubius lost 20% of its market value yesterday. The company is down about 65% from its 2018 IPO. At least we'll always have that press release.
You might wonder: What happened over the course of two days? A Rubius spokesperson explained the delay on an earlier manufacturing issue, since resolved, that led the company to lose “some momentum” with the study. A question about just when Rubius realized it needed to push back the timeline did not get a response.
Whatever the answer, the news isn’t going over well. Rubius lost 20% of its market value yesterday. The company is down about 65% from its 2018 IPO. At least we'll always have that press release.
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