Harpoon cuts bait with lead program after failing to find silver linings from ASCO data, other studies

Harpoon’s recent slide continued Thursday as it axed its lead program.

With market cap bleeding since June and a CEO resignation last October, Harpoon announced it would discontinue a dose escalation study for a trispecific, anti-PSMA T cell engager program known as HPN424. Investors appeared disappointed, but not surprised, by the news as Harpoon shares fell about 10% in early Friday trading.