PRQR shares quickly dip 68% right after Sepofarsen’s phase 2/3 trial in CEP290-mediated LCA10 has brought no beneficial results. Through several months ProQR has been testing the current candidate for RNA therapies for genetic eye diseases. The study was focusing on treating CEP290-mediated Leber congenital amaurosis 10 (LCA10) which is one of the uncurable visual diseases.
The stock has been declining by over 30% year to date. Moreover, today in premarket it is suddenly turning under $2 stock. In a couple of hours, it may plunge further. Is it the right time to buy the cheap biotech stock? If it goes down below $1 value risk-loving speculators may buy it in millions of volume. Although PRQR has missed Q3 earnings last hope for beating Q4 results might lead some investors to buy.