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Will All End Well for This Popular Reddit Biotech?

Zhiyuan Sun, The Motley Fool
·3-min read
Will All End Well for This Popular Reddit Biotech?

On June 28, shares of Cel-Sci (NYSEMKT: CVM) plunged nearly 70% peak-to-trough before recovering. The reason behind the wild price action couldn't be more obvious -- the company's pivotal phase 3 study involving its Multikine immunotherapy did not meet its primary endpoint of improving the overall survival (OS) of head and neck cancer patients. Cel-Sci had been extremely popular among traders of the r/WallStreetBets community due to its short interest -- standing as high as 24% before the data release.

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