Chemomab Drops After Board Changes and CEO Stock Purchase
Chemomab Therapeutics’ American depositary shares on Nasdaq were last down 6.5% at $1.74 Tuesday. The move trailed a down biotech sector, after a June 2 regulatory filing showed board and committee changes at the Israeli drug developer. Shares opened at $1.95, hitting a low of $1.74. An ADS is a U.S. receipt for foreign shares. Chemomab is working to push nebokitug, its top antibody, into possible late-stage testing for primary sclerosing cholangitis, or PSC. With the stock thin and cash limited, who's on the board and the status of any partner talks can be nearly as important as what the shares do each day.