Travere falls after pausing genetic disorder drug study

Travere Therapeutics

27/09/2024 14:06

** Shares of drug developer Travere Therapeutics  TVTX.O 
fall 4.6% to $14.35 premarket
    ** Company late on Thursday said it has paused enrollment in
a late-stage study testing its experimental drug, pegtibatinase,
to treat classical homocystinuria due to a manufacturing
scale-up process
    ** Homocystinuria is a rare inherited disorder in which the
body is unable to process certain building blocks of proteins
called amino acids
    ** Patients currently enrolled remain unaffected - TVTX
    ** "The pause pushes the expected resumption of enrollment
to 2026, resulting in delays for both the clinical program and
commercial launch" - TD Cowen analysts
    ** Up to last close, stock up ~67% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))