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Why Wall Street Doubts This Biotech Penny Stock Will Be Delisted

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The Street

By Maxx Chatsko The share price dipped below $1 — into penny stock territory — but analysts are optimistic they’ll recover. The biotech correction has been especially painful to early-stage drug developers like Selecta Biosciences (SELB) – Get Selecta Biosciences Inc. Report. Although the company has advanced one asset to phase 3 studies, nothing else in the pipeline has been tested in a single patient. That’s not an advantageous position to be in when investors abruptly shun risky assets. The tiny biotech saw the writing on the macroeconomic wall and issued a painful amount of dilution in A…

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