Verve Therapeutics slumps as U.S. FDA places heart disease trial on hold
07/11/2022 12:27
** Shares of biotech co Verve Therapeutics Inc VERV.O fall
15.6% to $26.4 before the bell
** Says U.S. FDA on Friday placed on hold co's clinical
trial application for evaluating gene editing treatment
VERVE-101
** VERVE-101 is being tested as a potential treatment for a
subtype of atherosclerotic cardiovascular disease (ASCVD), which
is a type of genetic heart disease
** Co expects to receive an official letter with FDA's
questions next month and plans on working closely with the U.S.
agency to resolve the hold as fast as possible in order to
initiate dosing in the country
** VERV down ~15% YTD, as of last close
(Reporting by Pratik Jain)
((Pratik.Jain@thomsonreuters.com;))