Spark Therapeutics Shares Plunged More Than 40% Today, Here’s Why

    Author Caroline HarrisPosted on Categories Biotechnology, HealthTags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
    Spark Therapeutics

    On Monday, in early trade, Spark Therapeutics, Inc. (NASDAQ:ONCE) saw its shares plunge more than 40%.

    What happened? Well, the decline started after the gene therapy biotech company disclosed data from various trials that are aimed at treating hemophilia treatment. While this might sound like a positive thing, analysts deemed that this treatment is less competitive than some products out there.

    In the report, Spark Therapeutics presented data from its trial of the treatment for hemophilia. This trial involved five separate patients. 

    Additionally, Spark Therapeutics revealed long-term data from a treatment for hemophilia B that it is currently working on with Pfizer, Inc. (NYSE:PFE)

    For 2017, shares of Spark Therapeutics are down 14.7%.

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    Author Caroline Harris
    About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.