On Monday, Rapt Therapeutics, Inc. RAPT inventory is buying and selling decrease after the corporate introduced it was terminating its zelnecirnon (RPT193) program.
Zelnecirnon was being evaluated in two randomized, placebo-controlled Part 2 scientific trials in bronchial asthma and atopic dermatitis (AD).
Each trials had been positioned on FDA scientific maintain in February 2024 resulting from a severe hostile occasion (SAE) of liver damage requiring a transplant in a single affected person within the AD trial.
No liver toxicity nor different treatment-related SAEs had been reported in every other trial participant.
The corporate subsequently closed each research earlier than finishing the deliberate enrollment.
Following FDA suggestions, the corporate stopped its zelnecirnon program.
“We plan to proceed advancing our next-generation CCR4 compounds with improved security margins for inflammatory illness and anticipate to establish a brand new candidate within the first half of 2025. Moreover, we proceed to actively pursue in-licensing alternatives for clinical-stage belongings,” Rapt CEO Brian Wong mentioned.
In July, Rapt Therapeutics laid off 47 individuals, or roughly 40% of the corporate’s headcount. The corporate anticipated the money funds associated to the restructuring to be considerably accomplished by the tip of the third quarter of 2024.
Value Motion: Rapt inventory is down over 46% at $1.54 ultimately examine Monday.
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