Rare Disease-Focused-Ultragenyx Pharmaceutical Stock Falls On Serious Adverse Events In Eaarly Genetic Disorder Study
Portfolio Pulse from Vandana Singh
Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) reported promising results from a Phase 1/2 study of GTX-102 for Angelman syndrome, showing significant improvements across multiple domains. Despite these positive outcomes, the stock fell 9.55% due to reports of serious adverse events in three patients.
April 15, 2024 | 2:40 pm
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Ultragenyx Pharmaceutical Inc's stock fell 9.55% despite positive study results for GTX-102 in treating Angelman syndrome, due to serious adverse events reported.
The drop in Ultragenyx's stock price is directly related to the market's reaction to the serious adverse events reported in the GTX-102 study. While the study showed significant improvements in patients, the occurrence of adverse events likely raised concerns among investors about the drug's safety profile, leading to a decrease in stock price.
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