Rubius is moving in the wrong direction
On July 18, 2018, Rubius Therapeutics went public at a $2 billion valuation and traded up 17% over the next three days. The next 18 months would bring only bad news.
The most recent indignity came yesterday, when Rubius revealed that its most advanced project, a modified red blood cell treatment for a rare disease, had been discontinued after a long-delayed clinical trial produced “uninterpretable” results. The company had enrolled a single patient, behind schedule.
A share of Rubius is now worth about $4, down more than 80% from its IPO price. The company’s plan now is to focus on oncology, where Rubius believes it can overcome the clinical, practical, and manufacturing problems that doomed its last project.
The most recent indignity came yesterday, when Rubius revealed that its most advanced project, a modified red blood cell treatment for a rare disease, had been discontinued after a long-delayed clinical trial produced “uninterpretable” results. The company had enrolled a single patient, behind schedule.
A share of Rubius is now worth about $4, down more than 80% from its IPO price. The company’s plan now is to focus on oncology, where Rubius believes it can overcome the clinical, practical, and manufacturing problems that doomed its last project.
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