topstockalerts
Oct 1, 3:04 PM
Agomab Therapeutics shares fell during the morning session, reversing a strong premarket gain after the company reported favorable 60-week data from the open-label extension of its Phase 2a STENOVA trial evaluating ontunisertib in patients with fibrostenotic Crohn’s disease. The results showed sustained disease control, a low annualized disease-related event rate of 3%, and no surgeries throughout the treatment period. The data support the company’s planned global Phase 2b NOV-ERA study, expected to enroll about 320 patients.
Despite the constructive clinical readout, the intraday reversal reflects a “buy the rumor, sell the news” dynamic often seen in small-cap clinical-stage biotech stocks. Additional selling pressure came after Wall Street Zen downgraded the stock to “Sell” on Sept. 30, one day before the data release.
$AGMB
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