Why Is Sensei Biotherapeutics (SNSE) Stock Down 40% Today?

Core Insights - Sensei Biotherapeutics' stock (NASDAQ:SNSE) is experiencing a significant decline following disappointing Phase 1/2 clinical trial results for its drug SNS-101, which targets the immune checkpoint VISTA for treating solid tumors [1][2] Clinical Trial Results - In the recent trial, only a few out of 34 patients treated with SNS-101 showed signs of improvement, leading to negative reactions from investors [2] - Dr. Shiraj Sen, a principal investigator, noted that the data revealed encouraging signs of clinical activity in a diverse group of patients with advanced solid tumors, particularly in cases where clinical responses are typically not expected, such as microsatellite stable colorectal and endometrial tumors [3] Stock Market Performance - As of Friday morning, SNSE stock has dropped by 39.8%, although it had previously increased by 83.5% year-to-date before the latest market close [4] - The trading volume for SNSE stock on Friday morning exceeded 160,000 shares, approaching its daily average of approximately 208,000 shares [3]