Rapt Therapeutics hits record low as FDA places two drug trials on hold
20/02/2024 17:52
(Updates)
** Rapt Therapeutics' shares RAPT.O fall as much as 68.7%
to a record low of $8.14
** US FDA placed a hold on two mid-stage trials of 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
** Brokerage Stifel says the clinical hold "represents a
major setback" for the company and could result in "a meaningful
delay in trial timelines"
** 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 and Sneha S K in Bengaluru)
((Khushi.Mandowara@thomsonreuters.com;))