Yumanity drops on partial clinical hold on U.S. trials of Parkinson's drug

Kineta

19/01/2022 13:02

** Shares of drug developer  YMTX.O  fall 15.5% to $2.07
premarket
    ** YMTX says U.S. FDA has placed a partial clinical hold on
trials testing multiple doses of its lead drug candidate,
YTX-7739, for the treatment of Parkinson’s disease  urn:newsml:reuters.com:*:nGNX1JwFqw
    ** However, the regulator is permitting the company’s
planned single dose clinical trial to proceed- YMTX
    ** Says it expects to receive additional detail from the FDA
within the next 30 days
    ** Parkinson's disease is a neurological disorder leading to
uncontrollable body movements, with most people developing the
disease at about 60 years of age
    ** In November, YTX-7739 met the main goals of an
early-stage trial in patients with mild-to-moderate Parkinson's
disease, however, brokerage Jefferies said the results were
below high investor expectations  urn:newsml:reuters.com:*:nL4N2S148Q
    ** As of last close, stock had fallen 89% in the past 12
months

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))