Why Are Unicycive Therapeutics Shares Trading Lower Today
Portfolio Pulse from Vandana Singh
Unicycive Therapeutics Inc (NASDAQ:UNCY) shares are trading lower after the company provided an update on its New Drug Application (NDA) for lanthanum dioxycarbonate (LDC), a drug being developed for hyperphosphatemia in chronic kidney disease patients on dialysis. The FDA has requested additional information, including risk assessment and clinical data, to evaluate the tolerability of LDC in patients. The company's shares are down 24.20% in premarket trading.
June 30, 2023 | 12:33 pm
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Unicycive Therapeutics' shares are trading lower after the FDA requested more data on its new drug. The company's shares are down 24.20% in premarket trading.
The FDA's request for additional information on Unicycive's new drug indicates potential regulatory hurdles, which could delay the drug's approval and negatively impact the company's stock price.
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