Axovant: Slumps after posting gene therapy data from Parkinson's study

Sio Gene Therapies

06/10/2020 18:56

** Shares of gene therapies developer  AXGT.O  down ~22% at
$4.40; stock biggest percentage loser on Nasdaq
    ** Co reports six-month follow-up data from the second group
of patients in a mid-stage trial receiving a high dose of its
experimental gene therapy, AXO-Lenti-PD, for the treatment of
Parkinson's disease  urn:newsml:reuters.com:*:nGNX3dyqmm
    ** Co says AXO-Lenti-PD was observed to be generally
well-tolerated in all 4 patients receiving the gene therapy
    ** However, two patients at its UK clinical trial sites
could not be assessed for symptom improvement because of
COVID-19 and a patient refusal
    ** Jefferies says the totality of the data is encouraging,
but investors could be concerned over the limited resources
available to drive the program forward
    ** The disclosure that clinical assessment for two patients
were missed adds to the concerns, brokerage says
    ** Co expects to dose the first patient in a
placebo-controlled study called EXPLORE-PD in 2021
    ** Up to Monday's close, AXGT up ~10% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
223 8780, outside the U.S. +91  80 6749 1692))