BioCentury
ARTICLE | Product Development

A sour note for recent IPO darling Third Harmonic

After September NASDAQ debut, biotech tumbles after discontinuing lead c-Kit inhibitor program

December 15, 2022 11:50 PM UTC

The third-largest biotech IPO of the year on NASDAQ has seen its shares implode just three months after listing.

Third Harmonic Bio Inc. (NASDAQ:THRD) raised $213.1 million at a $685.6 million valuation in an IPO on Sept. 14. But its first material announcement to the markets was anything but good news, as the biotech said on Thursday that it was discontinuing a Phase Ib trial of THB001 in chronic inducible urticaria after an observation of asymptomatic liver transaminitis in two subjects in the first dose cohort...

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Third Harmonic Bio Inc.