Why BIND Therapeutics (BIND) Stock Is Falling In After-Hours Trading Today

NEW YORK (TheStreet) -- BIND Therapeutics (BIND) shares are down -15.84% to $10.84 after the bell on Wednesday after the nanomedicine platform company and Amgen (AMGN) announced that they would not be exercising their collaborative option to develop an Accurin incorporating the Amgen therapeutic payload.

"The goal of this research collaboration was to optimize a specific therapeutic payload from Amgen. Despite achieving the objective of high tumor concentrations, the results were not sufficiently compelling to proceed forward and both collaborators have agreed that the program will not be continued," said BIND CEO Scott Minick.

Must ReadWarren Buffett's 25 Favorite Stocks

More from Markets

Italian Bonds Slump as Government Mulls Anti-Euro Finance Minister

Italian Bonds Slump as Government Mulls Anti-Euro Finance Minister

Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

One Thing to Consider Over Memorial Day Weekend: Are Stocks About to Collapse?

One Thing to Consider Over Memorial Day Weekend: Are Stocks About to Collapse?

North Korea, Apple, GPDR and Gap - 5 Things You Must Know

North Korea, Apple, GPDR and Gap - 5 Things You Must Know

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)