Why Is Design Therapeutics Stock Moving Lower Today?
Portfolio Pulse from Vandana Singh
Design Therapeutics Inc (NASDAQ:DSGN) reported initial results from its Phase 1 clinical trial of DT-216 in patients with Friedrich ataxia (FA). The results showed that DT-216 was generally well-tolerated and achieved a significant increase in frataxin (FXN) mRNA levels. However, injection site reactions were observed, leading the company to plan a reformulation of the drug. A new Phase 1 study is planned for the second half of 2024. DSGN shares are down 45.7% in premarket trading.
August 15, 2023 | 1:05 pm
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Design Therapeutics' stock price is down 45.7% following the announcement of initial results from its Phase 1 trial of DT-216 and plans to reformulate the drug due to injection site reactions.
The stock price of Design Therapeutics has dropped significantly following the announcement of initial results from its Phase 1 trial of DT-216. While the drug was generally well-tolerated and achieved a significant increase in FXN mRNA levels, injection site reactions were observed. This has led to plans to reformulate the drug, which may delay further development and potential revenue from the drug. This news is directly relevant to DSGN and is likely to have a significant impact on its stock price in the short term.
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