Posted 2/20/2024, 6:50:00 PM
Rapt Therapeutics Shares Plunge 72% as FDA Halts Studies Over Liver Toxicity Concerns
- Rapt Therapeutics stock crashed 72% after FDA put studies on hold due to liver failure in one patient
- Patient was receiving Rapt's drug zelnecirnon as treatment for eczema
- Cause of liver failure unknown; could be related to drug or patient's medical history
- Rapt has enrolled 350 patients across 3 studies of zelnecirnon; no other cases of liver toxicity
- Rapt was a top-rated biotech stock before news; shares now undercut key moving averages