What's Going On With Polaryx Therapeutics Stock Wednesday?

Polaryx Therapeutics Inc. (NASDAQ:PLYX) stock tumbled Wednesday, giving back gains after a sharp one-day surge sparked by a major clinical development announcement on Tuesday.

The stock closed Tuesday up 64.32% at $3.96, after the company announced it had selected a contract research organization (CRO) for its SOTERIA Phase 2 basket trial.

The trial is designed to evaluate PLX-200, Polaryx’s lead candidate, across multiple lysosomal storage disorders.

Polaryx said the CRO selection marks a pivotal milestone as it prepares to initiate the trial in the first half of 2026. The trial will assess the safety, tolerability, and clinical activity of PLX-200 across four different lysosomal storage disorders.

FDA Clearance Already in Hand

Polaryx previously received a safe-to-proceed letter from the FDA in October 2025. The SOTERIA trial will incorporate natural history data as a control arm compared to the PLX-200 treated arm.

PLX-200 is an orally available compound derived from gemfibrozil. The company noted that compelling clinical activity could potentially lead to conditional marketing authorization.

Stock Still Deep in Bearish Trend

Despite Tuesday’s surge, PLYX has declined 88.69% over the past 12 months and remains considerably closer to its 52-week low of $2.20 than its 52-week high of $48.91.

PLYX Price Action: Polaryx Therapeutics shares were down 22.47% at $3.07 at the time of publication on Wednesday, according to Benzinga Pro data.

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