Rapt plummets on discontinuation of experimental drug for eczema and asthma

Rapt Therapeutics

11/11/2024 19:40

** Shares of drug developer Rapt Therapeutics  RAPT.O  fall
42.4% to $1.66
    ** Co says based on recent feedback from the U.S. FDA it has
stopped development of its drug Zelnecirnon, for eczema and
asthma
    ** The decision follows a clinical hold placed on the drug's
trial by the FDA in February after a serious case of liver
injury in one of the patients
    ** Co says it will identify a new experimental therapy to
develop in H1 2025 
    ** Including session's move, stock down 93.4%

 (Reporting by Puyaan Singh and Christy Santhosh)
 ((Puyaan.Singh@thomsonreuters.com))