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Rubius Therapeutics is the can’t-do-anything-right biotech spinout from the high-profile venture capital firm Flagship Pioneering. Moderna — Flagship’s runaway success story — it is not.

But an opportunity for Rubius to improve its bumbling reputation — and continue a recent recovery in its stock price — looms. The company is preparing to disclose the first clinical data from an effort to transform red blood cells into cancer-fighting drugs.

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Rubius is using its “red cell therapeutic,” called RTX-240, to treat a small number of patients with advanced solid tumors. A preliminary look at possible tumor responses is expected within weeks, and the company will likely present the data at the annual meeting of the American Association for Cancer Research in early April.

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