Why Are Silverback Therapeutics Shares Falling On Monday?

  • Silverback Therapeutics Inc SBTX stock dropped to the lowest level since its IPO in December 2020 in reaction to interim data from SBT6050 Phase 1/1b trial for solid tumors.
  • The trial in advanced or metastatic HER2-expressing or amplified solid cancer was designed to evaluate SBT6050 as a monotherapy and combined with Merck & Co Inc's MRK Keytruda (pembrolizumab).
  • Data will be presented at the upcoming European Society for Medical Oncology (ESMO) 2021 Congress.
  • 14 patients were evaluable for the response after treatment of four dose levels of SBT6050 ranging from 0.15 mg/kg to 1.2 mg/kg
  • The best overall response was PR (n=1), SD (n=3), and PD (n=10).
  • SBT6050 given alone or in combination with pembrolizumab has a manageable safety profile.
  • The data in the abstract had a cut-off data date of April 4, 2021. 
  • However, the Company said that the upcoming poster would include additional data with a cut-off date of August 1.
  • Price Action: SBTX stock is down 22.8% at $15.01 during the market session on the last check Monday.
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