India, April 28 -- Shares of AnaptysBio Inc. (ANAB) are down over 50% from their 52-week high of $41.31, recorded last August, with the stock now hovering around the $20 level.
This clinical-stage biotechnology company is developing immunology therapeutics for autoimmune and inflammatory diseases. Its lead drug candidate is Rosnilimab, which is in a phase IIb trial for the treatment of rheumatoid arthritis and in a phase II trial for the treatment of ulcerative colitis.
In February of this year, the company announced statistically significant Week-12 data from its phase IIb trial of Rosnilimab for moderate-to-severe rheumatoid arthritis, dubbed RENOIR.
According to the trial results, Rosnilimab helped reduce symptoms in people with moder...