Rapt Therapeutics down as FDA places hold on two mid-stage studies

Rapt Therapeutics

20/02/2024 13:33

** Rapt Therapeutics's shares  RAPT.O  fall 65.6% to $8.92
premarket
    ** US FDA placed a hold on two mid-stage trials of the
RAPT's drug to treat eczema and asthma, after liver failure was
observed in one of the patients
    ** Co had enrolled about 350 patients across the two
mid-stage trials and a previous early-stage study of the drug
    ** No evidence of liver toxicity was observed with any other
patients enrolled across the study - RAPT
    ** The clinical hold "represents a major setback" for the
company and could result in "a meaningful delay in trial
timelines" - Brokerage Stifel
    ** Co was expected to report results of the trial in
patients with atopic dermatitis, or eczema, in mid-2024
    ** Up to Friday's close, stock had fallen ~6% in last 12
months

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))