Sio Gene Therapies down on scrapping Parkinson's disease drug development

Sio Gene Therapies

31/01/2022 22:10

** Shares of drug developer  SIOX.O  fall 9.4% to $1.06 in
extended trading
    ** SIOX to stop development of its gene therapy for
Parkinson's disease, AXO-Lenti-PD, returning global rights for
the drug to Oxford Biomedica Plc  OXB.L   urn:newsml:reuters.com:*:nGNX8ykrzC
    ** SIOX intends to terminate the licensing agreement, which
was originally signed in 2018, and prioritize the development of
its lead gene therapy candidates for metabolic disorders GM1 and
GM2 gangliosidosis
    ** The portfolio prioritization extends SIOX's estimated
cash runway into second half of 2023 - co
    ** SIOX also appoints current chief financial officer as
interim CEO, replacing Pavan Cheruvu, who is leaving the company
to pursue new opportunities
    ** Co to report Q3 2021 results on Feb 11
    ** Stock fell 53.4% in 2021

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))