Why Is Inflammatory Disease/Oncology-Focused RAPT Therapeutics Shares Tumbling Today?
Portfolio Pulse from Vandana Singh
RAPT Therapeutics Inc (NASDAQ:RAPT) shares plummeted after the FDA placed a clinical hold on Phase 2b and 2a trials of zelnecirnon for atopic dermatitis and asthma, respectively, due to a serious adverse event of liver failure in one patient. The company is investigating the case, which involved a patient with a complex medical history. RAPT shares are down 65.7% at $8.9.
February 20, 2024 | 5:24 pm
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NEGATIVE IMPACT
RAPT Therapeutics Inc shares dropped significantly after the FDA's clinical hold on zelnecirnon trials due to a serious liver failure event.
The FDA's clinical hold on RAPT Therapeutics' key trials due to a serious adverse event directly impacts the company's short-term prospects, leading to a significant drop in stock price. The investigation's outcome and the hold's duration remain uncertain, adding to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100