Design Therapeutics slumps on setback to nerve disorder drug trial

Design Therapeutics

15/08/2023 12:46

** Shares of drug developer Design Therapeutics  DSGN.O 
slumps 43.38% to $4.15 premarket
    ** Co says will develop its drug DT-216 with a new
formulation after five cases of injection site thrombophlebitis
or blood clots were observed in an early-stage trial
    ** DSGN has elected to complete dose escalation in the study
due to concern over potential worsening of injection site
thrombophlebitis at higher doses with multiple administrations
    ** Co plans to initiate multi-dose early-stage study in H2
2024 
    ** DT-216 is being developed for the treatment of patients
with Friedreich's ataxia, an inherited disorder that affects
some of the body's nerves
    ** Up to last close, stock down ~29% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))