Verve Therapeutics slumps to all-time low on questions over gene editing therapy data
13/11/2023 17:17
(Updates)
** Verve Therapeutics shares VERV.O slump as much as 47.7%
to an all-time low of $8.22; last down 41% in afternoon trade
** Co posted data from an early-stage trial for its therapy
for a genetic condition that raises the risk of heart disease
which showed the treatment reduced a key protein by 47% at the
high dose and between 59% and 84% in the middle dose
** The therapy helped reduce the blood protein called PCSK9
that regulates the LDL-cholesterol levels that are believed to
be tied to heart ailments
** "One of the questions from ... data was why the patient
who received the highest dose had a lower magnitude of PCSK9
reduction" - Stifel analysts
** Stifel also says some investors have also raised caution
on the safety signals of one fatal cardiac arrest and myocardial
infarction, which is a type of heart attack
** Including session's loss, stock down 52.1% YTD vs a 12.3%
decline in the Nasdaq Biotechnology Index .NBI
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com;))