Taysha Gene down on plans to scrap rare pediatric disorder therapy program

Taysha Gene Therapies

20/09/2023 14:25

** Taysha Gene Therapies Inc's shares  TSHA.O  down 9.6% to
$2.95 premarket 
    ** Co says it will discontinue developing its experimental
therapy TSHA-120 to treat giant axonal neuropathy (GAN), a rare
inherited pediatric disorder that affects body's peripheral and
central nervous system
    ** Co to pursue external strategic alternatives for the
program
    ** Decision after Type C meeting feedback from FDA  
    ** Co expects strategic program prioritization to extend
cash runway into Q4'25 to support the continued development of
its experimental gene therapy TSHA-102 in Rett syndrome
    ** TSHA-120's development in GAN scraped due to challenges
with study design feasibility to support drug's potential
marketing application submission -  TSHA
    ** FDA continued to recommend randomized, double-blind,
placebo-controlled trial to demonstrate TSHA-120's efficacy
    ** Brokerage Canaccord Genuity says program discontinuation 
not surprising as TSHA had previously been clear that a longer
trial was not viable
    ** Canaccord sees TSHA-102 as the main value driver and sets
eyes on next clinical update coming in November
    ** As of last close, stock up 44.3% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))