Biotech Values

[dewophile]

NLTX

The company is discontinuing its lead clinical program - a de novo IL-2 (non alpha) agonist. This comes after SNY pared back their non alpha il-2 program bc of low efficacy a month or so ago, and obviously the bempeg failure.
On a positive note they did say their drug didn't show significant immunogenicity even after multiple dosing - which was a genuine concern
They have 106M in cash but are on the hook for 6-8M in restructuring costs. Runway expected to last 3 years. I don't even know what their lead candidate(s) are going to be now - nothing is close to entering the clinic.
An exception to "zebra's law"? Seems like a good decision by the company.