CARsgen Therapeutics hits record low as some drugs put on clinical hold in US

CARsgen Therapeutics Holdings

13/12/2023 02:01

** Shares of CARsgen Therapeutics Holdings Ltd  2171.HK 
plunge 35.7% to HK$6.07, their lowest since debut in June 2021,
snapping two sessions of gains
    ** Stock on course for the biggest one-day drop since debut
if losses hold; second biggest pct loser in Hang Seng Composite
Index  .HSCI 
    ** Co says its U.S. unit CARsgen Therapeutics Corp has
received a notice from the U.S. Food and Drug Administration
(FDA) to the effect that its cancer drug CT041, CT053 and CT071
be put on clinical hold pending findings following an inspection
of the manufacturing site located in Durham, North Carolina 
    ** Co says it will conduct a comprehensive review and
improvement on the current good manufacturing practice and to
work with FDA to address the findings to ensure production
quality for clinical trials and launching applications
    ** Hong Kong's healthcare index  .HSCIH  climbs 0.6%, while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
both slips 0.8%
    ** Stock down 51.7% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))