Entrada Therapeutics up on muscle wasting disorder therapy deal

Entrada Therapeutics

08/12/2022 14:48

** Shares of therapy developer Entrada Therapeutics Inc
 TRDA.O  rise 15.1% to $20.40
    ** Company collaborates with biotech firm Vertex
Pharmaceuticals Inc  VRTX.O  to develop its investigational
therapy, ENTR-701, for treatment of a type of myotonic dystrophy
    ** Myotonic dystrophy is a disorder that causes progressive
muscle wasting and weakness 
    ** Entrada to receive $224 mln upfront payment and $26 mln
equity investment
    ** Company eligible to receive up to $485 mln for
achievement of certain milestones and tiered royalties
    ** Including session's gain, stock up 3.5% YTD
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com))