Magenta Therapeutics hits record low after blood cancer therapy trial raises safety concerns

Dianthus Therapeutics

20/12/2022 16:18

(Updates)
    ** Shares of drug developer Magenta Therapeutics Inc
 MGTA.O  fall 48.2% to $0.43, hit record low
    ** Company stops dosing patients at cohort 4 dosing level in
drug MGTA-117's early-to-mid-stage trial after dose-limiting
toxicities (DLTs) were observed in the second and third dosed
participants
    ** Toxicity in patients involved a respiratory serious
adverse event, according to company
    ** The drug is being studied to treat acute myeloid leukemia
(AML) and myelodysplastic syndrome (MDS)
    ** Both AML and MDS are cancers associated with the blood
and bone marrow
    ** Company says it reported the clinical data of first
observed DLT to the U.S. FDA; adds information for DLT event in
the second participant is forthcoming
    ** Magenta now plans to continue enrollment and dose
additional participants at the cohort 3 dosing level
    ** Including session's fall, stock down 90.3% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))