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Why Molecular Templates Stock Crashed Today

Why Molecular Templates Stock Crashed Today

Shares of Molecular Templates (NASDAQ: MTEM) closed down 23.6% on Monday. The big drop came after the company announced that it was resuming full rights of engineered toxin bodies (ETB) candidate TAK-169 from Takeda (NYSE: TAK). Molecular Templates also said that it's discontinuing the development of MT-3724, another experimental ETB.