ARTICLE | Product Development
Verve’s choice of lead application left little room to impress
Company achieves landmark POC for base editing technology, but with safety concerns and efficacy of approved therapies already high, its shares take a hit
November 14, 2023 2:15 AM UTC
The first ever clinical readout of an in vivo base editing therapy disappointed investors Monday, showing that initial target and indication selection for a new modality or technology can have a major impact on how proof-of-concept data are perceived.
Verve Therapeutics Inc. (NASDAQ:VERV) lost 41% of its value, translating to a loss in market cap of $410 million, after debuting safety and efficacy data for VERVE-101, a base editing therapy that disrupts PCSK9 expression in the liver to treat heterozygous familial hypercholesterolemia. Verve shares closed at $9.29, giving the company a market cap of about $590 million...
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