Frequency Therapeutics plunges as hearing loss treatment disappoints in mid-stage trial

Korro Bio

23/03/2021 13:15

** Drug developer's shares  FREQ  down 72.6% at $10
premarket, set to touch their record low
    ** Stock top pct loser across U.S. exchanges and set for
their worst day ever
    ** Co says four weekly injections of its lead candidate,
FX-322, to treat patients with mild to moderately severe hearing
loss did not show improvements vs placebo in a mid-stage trial
 urn:newsml:reuters.com:*:nBw485v0la
    ** However, co says separate FX-322 early-stage study
confirms hearing improvement from single injection
    ** "We will continue to move ahead with single-dose
administrations in future studies" - FREQ
    ** Up to Monday's close, stock rose ~3% YTD

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))