Verve Therapeutics falls after it pauses enrollment in gene editing therapy study

Verve Therapeutics

02/04/2024 15:26

(Updates)
    ** Shares of genetic medicines co Verve Therapeutics
 VERV.O  fall as much as 41.8% to record low of $7.43
    ** Co to pause enrollment of its early-stage study testing
its gene editing therapy called VERVE-101 after a patient
enrolled in the study experienced a severe drug-related adverse
event 
     ** The patient saw a rise in levels of a problem-causing
liver enzyme and abnormally low levels of blood platelets within
the first four days after dosing - VERV 
    ** Co says it is investigating the abnormalities and expects
to work with regulatory authorities on further development of
the therapy
    ** "For the gene editing therapies to be broadly uptaken, a
relatively clean safety is required, especially for diseases
with alternative options," says BMO analyst Kostas Biliouris 
    ** Adds it will now prioritize development of another gene
editing therapy, VERVE-102, in development for the same
condition
    ** Plans to start an early-stage trial to test VERVE-102 in
the Q2 of this year 
    ** Up to last close, stock mostly flat YTD  

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))