Aadi Bioscience (NASDAQ:AADI) Stock Price Down 2.5% - Here's What Happened

Key Points

• Shares fell 2.5% in mid-day trading to $3.90 (intraday low $3.74) on volume of ~316,496 shares, about 21% above the average.
• Aadi is a clinical-stage biopharma focused on genomically defined cancers with lead candidate fimepinostat (CUDC-907), and a market cap of ~$96.3M with a negative PE, reflecting pre-profit status.

Aadi Bioscience, Inc. (NASDAQ:AADI - Get Free Report)'s share price dropped 2.5% during mid-day trading on Thursday . The company traded as low as $3.74 and last traded at $3.90. Approximately 316,496 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 261,100 shares. The stock had previously closed at $4.00.

Aadi Bioscience Stock Performance

The stock has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $2.74. The firm has a market cap of $96.32 million, a PE ratio of -1.71 and a beta of 0.68.

Aadi Bioscience Company Profile

Aadi Bioscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genomically defined cancers. Headquartered in Redwood City, California, Aadi Bioscience was founded in 2012 and went public in 2019 on the Nasdaq Stock Market under the ticker AADI. The company's research strategy centers on identifying molecular drivers of tumor growth and designing small-molecule inhibitors that target these pathways.

The company's lead product candidate, fimepinostat (CUDC-907), is a novel dual inhibitor of histone deacetylase (HDAC) and phosphatidylinositol 3-kinase (PI3K).

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