RAPT Therapeutics Shares Hit 52-Week Low After Trials Closed
By Chris Wack
RAPT Therapeutics shares hit their 52-week low of $4.39 after the company shut down two Phase 2 trials.
The stock was trading down 41% at $4.67 on Thursday, and was down 76% in the past 12 months.
The immunology-based therapeutics company said it has decided to close and unblind both its Phase 2b clinical trial of zelnecirnon in atopic dermatitis and its Phase 2a trial of zelnecirnon in asthma.
Both clinical trials were placed on clinical hold by the Food and Drug Administration in February based on a serious adverse event of liver failure requiring transplant in one patient in the atopic dermatitis trial. Prior to the imposition of the clinical hold, 229 patients had been enrolled in the Phase 2b atopic dermatitis trial, of which 110 had completed the 16-week dosing period.
RAPT said it is continuing its investigation and analysis of the serious adverse event that triggered the clinical hold.
The company also reported a loss of $30.5 million, or 79 cents a share, compared with a loss of $28.9 million, or 76 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $31 million, or 82 cents a share.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 09, 2024 13:04 ET (17:04 GMT)
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