Kaleido slumps after stopping clinical trial

Kaleido Biosciences

05/10/2021 18:26

** Drug developer's shares  KLDO.O  fall ~12% to $5.2, the
biggest loser on Nasdaq Biotech index  .NBI 
    ** Co says it notified clinical sites of its decision to
terminate a mid-stage study testing its KB195 drug candidate for
ureacycle disorder, based on a number of factors, including the
impact of the COVID-19 pandemic on clinical trial enrollment,
timelines and expenditures
    ** Co also says a clinical study evaluating KB295, its
therapy candidate for mild-to-moderate forms of the bowel
disease ulcerative colitis, showed that the therapy was well
tolerated and no safety concerns were observed
    ** The trial was originally designed to enroll 30 subjects
at a single site in Ireland. However, due to COVID-19 related
enrollment impacts, 12 subjects were enrolled, primarily from
Ireland - KLDO
    ** KLDO says it plans to initiate a mid-stage study for
KB295 in the first half of 2022
    ** Up to Monday's close, KLDO down ~36% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; +91  8061822700;))