Metacrine shares slump after halting one of its NASH programs

Metacrine

22/10/2021 12:26

** Drug developer's shares  MTCR.O  slump as much as 52.4%
to $1.82 before the bell - on track to hit lowest levels since
IPO if losses hold 
    ** Stock among top pct losers across U.S. stock indexes in
premarket 
    ** MTCR said late on Thursday it was terminating development
of its experimental drug MET642 as a potential treatment for
NASH disease  GNX1Nnr6G 
    ** NASH is a fatty liver disease characterized by liver
scarring and currently has no approved treatments
    **MET642 was granted fast track status by the U.S. Food and
Drug Administration in January  GNX7xh8zH  
    ** MTCR will continue to develop MT642 as an inflammatory
bowel disease treatment, plans to begin mid-stage study in H1
2022
    ** Up to Thursday's close, MTCR down ~67% since Nasdaq debut

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))