Reata Pharma eyes over 3-year low on U.S. FDA decision

Reata Pharmaceuticals

09/12/2021 11:14

** Shares of Reata Pharmaceuticals  RETA.O  drop 39% to
$33.28 premarket, set for their lowest in over three years
    ** The U.S. FDA voted no on effectiveness of RETA's chronic
kidney disease drug
    ** Co biggest pct decliner among Nasdaq-listed stocks
premarket after reporting https://www.businesswire.com/news/home/20211208006101/en/Reata-Pharmaceuticals-Announces-Outcome-of-FDA-Advisory-Committee-Meeting-of-Bardoxolone-for-the-Treatment-of-Patients-with-Chronic-Kidney-Disease-Caused-by-Alport-Syndrome
 the outcome of a U.S. FDA advisory committee (AdCom) meeting,
which said co's drug was ineffective against chronic kidney
disease; the agency had raised questions about the drug's safety
and efficacy on Monday  urn:newsml:reuters.com:*:nL4N2SR3GB
    ** Shares marked their worst session ever on Monday, falling
~38% 
    ** In its previous session, stock's trading was halted due
to FDA AdCom discussion of the drug  urn:newsml:reuters.com:*:nFWN2ST0XP
    ** On Thurs, Baird cut the stock to "neutral", saying there
are "major questions around path forward" for the kidney drug,
bardoxolone methyl, at this point
    ** Stock is set to mark its worst week in over a year; YTD,
shares have slumped 56%

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))