Edgewise Therapeutics jumps on early data for heart disease drug

Edgewise Therapeutics

19/09/2024 15:59

** Shares of drug developer Edgewise Therapeutics  EWTX.O 
soar 45% to hit an over 3-year high of $27.66   
    ** Co says its experimental drug to treat a heart condition 
was well-tolerated in an early-stage study 
    ** The drug, EDG-7500, is being developed to treat
obstructive hypertrophic cardiomyopathy, a disease that involves
the thickening of heart muscle and making it harder for the
heart to pump blood  
    ** "This early data shows the drug is working as intended,"
according to Truist Securities analysts 
    ** Truist raised PT on EWTX to $33 from $25, representing a
73% upside to the stock's last close
    ** Including session gains, stock more than doubled YTD 

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