PDS Biotechnology Corporation (NASDAQ:PDSB) shares have fallen by about 67% on Tuesday as the company announced a strategic refocus on its PDS0301 program for metastatic colorectal cancer.
PDS0301 Metastatic Colorectal Cancer Focus
The company on Tuesday said, “We concluded that our resources should be redirected toward PDS0301, where we believe the combination of encouraging clinical data, development opportunity and capital requirements provide a potentially more attractive path to long-term shareholder value.”
“We believe the strength of the Phase 2 clinical results allows us to preserve the potential value of PDS0101 through a strategic partnership,” said PDSB CEO Frank Bedu-Addo in a letter to shareholders.
PDSB Technical Outlook: Oversold Conditions And Downtrend
