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Here's Why Rafael Holdings Is Plummeting Today

·2 min read
Here's Why Rafael Holdings Is Plummeting Today

Shares of Rafael Holdings (NYSE: RFL) are tanking after its subsidiary Rafael Pharmaceuticals reported disastrous news for its experimental new cancer therapy. Revenue from commercial real estate wasn't enough to cover the research and development of Rafael Pharmaceuticals' lead candidate, CPI-613, as a potential new treatment for patients with leukemia and pancreatic cancer. The bottom fell out from under the stock this morning because CPI-613 didn't do anything to improve pancreatic cancer patients' chance of long-term survival.