LogicBio surges as FDA lifts hold on metabolic disorder therapy trial

ContextLogic Holdings

09/05/2022 13:57

** Shares of drug developer  LOGC.O  surge 84% to $0.92
premarket - top pct gainer across U.S. exchanges before the bell
    ** Stock set to open at over three-month high, if gains hold
    ** LOGC says U.S. FDA lifted clinical hold on co's
early-to-mid-stage trial of its genome editing therapy, LB-001,
among children with methylmalonic acidemia - a type of metabolic
disorder  urn:newsml:reuters.com:*:nPn4ZrV0ta
    ** FDA had put a hold on trial in Feb after serious adverse
events, categorized as cases of thrombotic microangiopathy (TMA)
in two patients  urn:newsml:reuters.com:*:nL4N2UD25W
    ** TMA can stem from cancer as well as cancer treatment and
is characterized by symptoms such as destruction of red blood
cells and low platelet count
    ** Both cases of TMA resolved within weeks; in its letter,
FDA acknowledged co satisfactorily addressed all clinical hold
issues - LOGC
    ** LOGC says it has initiated activities to resume dosing
patients in trial as soon as possible
    ** Stock down 78.5% YTD, up to last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))