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Here's Why Editas Medicine Lost 16.6% in December

Tags: stock
DATE POSTED:January 10, 2019

Shares of Editas Medicine (NASDAQ: EDIT) lost over 16% last month, according to data provided by S&P Global Market Intelligence. The gene-editing pioneer announced that CFO Dr. Andrew Hack was departing the company effective March 1, 2019, which surprised investors, who were already a little skittish following a rough end of the year for the stock market. 

While losing a top executive can sometimes be a sign of larger problems, the move at Editas Medicine doesn't seem to fit the bill. Both Dr. Hack and CEO Katrine Bosley noted that the upcoming transition from a preclinical company to one with ongoing clinical trials provided a natural opportunity for change. That makes sense, as it's common for executives to get shuffled around as companies move through different phases of development.

Image source: Getty Images.

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Tags: stock