Entrada eyes worst day ever after clinical hold on DMD therapy trial application

Entrada Therapeutics

20/12/2022 15:33

** Shares of biotech Entrada Therapeutics Inc  TRDA.O  slide
38.5% to a three-month low of $12.24
    ** Set for worst day on record if losses hold; among top
three pct. decliners across U.S. exchanges
    ** TRDA says U.S. FDA put a clinical hold on its application
seeking the regulator's nod to begin studying ENTR-601-44, its
experimental treatment for Duchenne muscular dystrophy (DMD)
    ** DMD is a rare disorder that affects muscles, leading to
muscle-wasting that gets worse over time
    ** Cowen ("outperform") notes TRDA joins other cos that have
received hold on their competitive RNA-based neuromuscular
programs this year, such as Sarepta Therapeutics  SRPT.O , Dyne
Therapeutics  DYN.O , and Avidity Biosciences  RNA.O 
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    ** Brokerage adds though TRDA shares will be pressured due
to the hold, brokerage's regulatory consultant says FDA does not
necessarily issue holds due to program concerns, but rather as a
precautionary or even routine measure to address questions it
may have before sponsor proceeds with the study 
    ** TRDA has gained ~16% YTD through last close
 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))