Why is Connect Biopharma stock plunging 33% today?
Connect Biopharma's stock fell 33.6% to $1.145 after its Phase 2 asthma drug trial failed to meet the primary endpoint, despite showing some positive results. The company's drug, rademikibart, did not achieve statistical significance in reducing treatment failure rates. Analysts had previously set a $7.00 price target. The broader market also declined slightly.

