Dyne Therapeutics jumps on positive data for muscle disorder drugs

Dyne Therapeutics

20/05/2024 15:21

** Shares of drug developer Dyne Therapeutics  DYN.O  rise
25.3% to $34.83 
    ** Co says its experimental drug to treat myotonic dystrophy
type 1 (DM1), DYNE-101, showed benefit in an early-mid-stage
study   
    ** DM1 is a rare, progressive genetic disease that affects
skeletal, cardiac muscle
    ** Says its investigational drug being tested for Duchenne
muscular dystrophy (DMD),  DYNE-251, helped achieve higher
levels of dystrophin protein compared to standard-of-care -DYN  
    ** DMD is a genetic disorder characterized by progressive
muscle degeneration and weakness due to the alterations of
dystrophin that help keep muscle cells intact 
    ** DYN expects to pursue expedited approvals for both
programs with an update on registrational pathways expected by
year-end
    ** "Given both the data, we believe Dyne is well positioned
for an accelerated approval pathway for both the programs," H.C.
Wainwright analyst Andrew Fein wrote in a note
        ** Brokerage hikes PT on co to $48 from $36
  
    ** Including session's gains, stock more than doubled YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))