Entrada falls as FDA keeps muscle-wasting therapy on clinical hold

Entrada Therapeutics

22/11/2023 17:28

** Shares of Entrada Therapeutics  TRDA.O  fall 30.7% to a
near five-month low of $11.5
    ** Stock set for biggest one-day pct loss
    ** TRDA says FDA has not removed clinical hold that stopped
co from testing its therapy, ENTR-601-44, for a type of muscle
wasting disorder called Duschenne muscular dystrophy (DMD) in
the U.S.
    ** Trial in U.S. was placed on hold by FDA in Dec. 2022
    ** TRDA has completed dosing in 40 healthy male participants
in an early-stage trial for the therapy in UK to test its safety
and tolerability 
    ** Co expects data from the trial in H2 2024
    ** Brokerage William Blair calls the current decision "a
minor setback" and it says the "news places heightened
importance on this dataset being sufficient to overcome
challenges"
    ** All 4 brokerages covering TRDA rate the stock "buy" or
higher; their median PT is $25 - LSEG
    ** Including session's loss, stock down 11.4% YTD 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))