Why BIND Therapeutics Inc. Shares Soured

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What: Shares of BIND Therapeutics (NASDAQ: BIND  ) , a clinical-stage nanomedicine platform company, fell as much as 11% after announcing the departure of its chief medical officer, Greg Berk.

So what: According to BIND's press release, which came immediately after the closing bell yesterday, Berk will be leaving to "pursue another opportunity," but will continue serving as an adviser to the company until his departure. BIND notes that Edward Schnipper, who has previously served as an advisor for the company and its chief medical officer, will fill the position on an interim basis.

Now what: We don't have to read too far into investors' fears today. The loss of CMO Greg Berk in the middle of enrollments for its mid-stage study of its most advanced drug candidate, BIND-014, for the treatment of non-small-cell lung cancer and prostate cancer, has investors concerned that the company might somehow lose focus. I, personally, wouldn't be too concerned with today's untimely departure and would instead let the phase 2 data from these upcoming trials do the talking later this year.

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  • Report this Comment On January 08, 2014, at 1:02 PM, TruffelPig wrote:

    Bob Langer company. Any day below IPO price = accumulation time. I bought the dip in several accounts.

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Sean Williams

A Fool since 2010, and a graduate from UC San Diego with a B.A. in Economics, Sean specializes in the healthcare sector and in investment planning topics. You'll usually find him writing about Obamacare, marijuana, developing drugs, diagnostics, and medical devices, Social Security, taxes, or any number of other macroeconomic issues.

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8/31/2015 3:59 PM
BIND $4.69 Up +0.24 +5.39%
BIND Therapeutics,… CAPS Rating: ****