Yumanity slumps as Parkinson's drug trial data disappoints

Kineta

10/11/2021 17:45

** Shares of drug developer  YMTX.O  fall ~31% to $5.9
    ** Co says its lead product candidate, YTX-7739, met the
main goals of an early-stage trial in patients with
mild-to-moderate Parkinson's disease  urn:newsml:reuters.com:*:nGNX1zd6VQ
    ** YTX-7739 was shown to inhibit an enzyme called
stearoyl-CoA desaturase, whose inhibition has been closely
linked to neuronal survival and improved motor function in
Parkinson's disease patients - YMTX
    ** The results look good and encouraging, but fall below
high investor expectations around the drug's effect on some
biological disease indicators - Jefferies
    ** Co plans to test the drug in a mid-stage clinical trial
for Parkinson's disease in 2022
    ** "While we appreciate the pullback in the stock, we think
for investors with longer investment horizons, YMTX is a cheap
stock with significant upside potential over time," brokerage
Jefferies says
    ** Up to Tuesday's close, YMTX down ~50% YTD

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