Shares of Leap Therapeutics slid after disappointing initial data from two mid-stage clinical trials of its oncology treatment, resulting in the discontinuation of one clinical program.

Leap Therapeutics has come crashing down to earth. The biotech axed plans to advance into phase 3 in gastric cancer on the basis of midstage data, sending its stock down 60% to below $1, but it is forging ahead in another indication.