Why Bellicum Pharmaceuticals (BLCM) Stock Is Down 48%

Bellicum Pharmaceuticals Inc BLCM shares are trading lower by 48.26% to $0.44 Wednesday morning after the company discontinued Phase 1/2 trials and initiated an evaluation of strategic alternatives.

Bellicum Pharmaceuticals says, while clinically meaningful efficacy has been observed—including 5 of 9 mCRPC patients treated achieving PSA50 response, 4 of whom achieved PSA90 response—the company believes it does not have the necessary resources to optimize either the clinical dose and schedule of BPX-601 cells and the activating agent rimiducid, or the design of the BPX-601 cell construct to achieve a favorable risk/benefit profile.

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The company says it is communicating with clinical trial sites and regulatory agencies regarding its decision to discontinue its trials, and an evaluation of the company's strategic alternatives is underway.

According to data from Benzinga Pro, BLCM has a 52-week high of $2.20 and a 52-week low of $0.38.