Q32 Bio plummets as dermatitis drug fails in part of a study

Q32 Bio

10/12/2024 22:03

** Shares of drug developer Q32 Bio  QTTB.O  fall 67.64% to
$7.90 after market
    ** QTTB says its experimental drug bempikibart failed to
meet the main goal in a part of a mid-stage trial studying it in
patients with atopic dermatitis
    ** The two-part trial was evaluating the drug in adults with
atopic dermatitis, a condition that causes dry, itchy and
inflamed skin
    ** Co plans to conduct a review to better understand the
results
    ** In another trial, bempikibart showed improvement in
patients with alopecia areata, an autoimmune disease that causes
hair loss in patches
    ** Based on the results, QTTB plans to advance development
of bempikibart in patients with the hair condition
    ** Up to last close, stock up ~123% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com))