Dyne Therapeutics slumps on safety concerns over drug trial, management changes
03/09/2024 16:11
** Drug developer Dyne Therapeutics' DYN.O shares slump
~35% to a more than 3-month low of $30.05
** Company says 2 Duchenne muscular dystrophy (DMD) patients
on highest dose of its experimental drug in early-to-mid-stage
study experienced serious side effects
** Side effects may occur as more patients are treated in
trials, Stifel analysts say, adding that both the patients
remaining on drug and in the study assuage brokerage's concern
regarding the drug's safety
** DMD is a rare, hereditary disorder characterized by
muscle degeneration
** Company says chief medical officer Wildon Farwell will
step down from role and be succeeded by Doug Kerr, among other
management changes at Dyne
** Including session moves, stock more than doubled YTD
(Reporting by Mariam Sunny in Bengaluru)
((Mariam.ESunny@thomsonreuters.com))