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06.05.2021 17:29:45

Why Global Blood Therapeutics Stock Is Sinking Today

Shares of Global Blood Therapeutics (NASDAQ: GBT) were sinking 8% as of 11:14 a.m. EDT on Thursday. The decline came after the company announced its first-quarter results following the market close on Wednesday.Global Blood Therapeutics reported net sales of $39 million in the first quarter, all of which stemmed from sickle-cell disease drug Oxbryta. This result fell well below the average analyst estimate of $47.3 million. The large revenue miss sparked today's sell-off of the biotech stock.Image source: Getty Images.Continue reading
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