Third Harmonic Bio hits record low on scrapping inflammation drug study

Third Harmonic Bio

15/12/2022 16:15

(Updates)
    ** Shares of Third Harmonic Bio Inc  THRD.O  fall 77.7% to a
record low of $4.40, biggest-ever one-day pct loss
    ** Top pct loser across U.S. stock exchanges
    ** Company says it will discontinue ongoing early-stage
study of its lead experimental drug to treat patients with
severe allergy and inflammation, citing safety concerns
 urn:newsml:reuters.com:*:nGNXc0CXYS
    ** Two of the subjects enrolled in the study are observed
with an asymptomatic increase in liver enzymes which can lead to
liver disorder, according to company
    ** Company plans to provide an update on overall corporate
strategy and outlook in early 2023
    ** Including session losses, stock down ~74% since debut on
Sept. 15
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com))