Imara slides on plans to stop blood disorder therapy development

Enliven Therapeutics

05/04/2022 12:27

** Shares of drug developer  IMRA.O  fall ~30% to $1.14
premarket
    ** Co says it will stop development of its experimental
drug, tovinontrine, in sickle cell disease (SCD) and
beta-thalassemia (https://refini.tv/37kgijK)
    ** An ongoing mid-stage trial testing tovinontrine in
patients with beta-thalassemia and another testing it for
treating SCD will be discontinued during Q2
    ** SCD is a group of inherited red blood cell disorders and
beta-thalassemia is a blood disorder that reduces production of
hemoglobin
    ** Decision made after interim analyses of both trials,
where drug did not show significant improvement
    ** Plan to consider our strategic options, including
development of tovinontrine in diastolic heart failure as well
clinical development plans for its other pipeline candidate
IMR-261 - CEO
    ** Three of four brokerages covering stock rate it 'buy' or
higher, one 'hold'; median PT is $16.50

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))