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

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists