Verve Therapeutics (NASDAQ:VERV) stock is taking a beating on Monday after the genetic medicines company announced new clinical data.
This clinical data comes from the company’s phase 1b clinical trial of VERVE-101 as a treatment for patients with Heterozygous Familial Hypercholesterolemia.
A single infusion of VERVE-101 showed reductions in pharmacodynamic measures of blood PCSK9 protein levels.
Deepak Bhatt, M.D., M.P.H., said the following about the trial data:
“I am very encouraged by the initial data from the heart-1 trial that demonstrated the potential for single-course gene editing as a new approach to treat patients with HeFH. The data showed that VERVE-101 could meaningfully and durably lower LDL-C in these patients.”
VERV Stock Reactions on Monday
While the interim clinical trial results show promise for VERVE-101 as a treatment in this use, the data doesn’t seem to have impressed investors.
As a result, more than 1 million shares of the stock have changed hands this morning. That’s already above the company’s daily average trading volume of about 988,000 shares.
VERV stock is down 39.1% as of Monday morning. The stock was also down 16.9% year-to-date when markets closed on Friday.
Investors who are looking for even more of the most recent stock market stories are going to want to keep reading!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Monday! A few examples include why shares of Collective Audience (NASDAQ:CAUD) and SenesTech (NASDAQ:SNES) stock are up today, as well as a breakdown of the biggest pre-market stock movers for this morning. You can catch up on all of these matters by checking out the links below!
More Monday Stock Market News
- Why Is Collective Audience (CAUD) Stock Up 37% Today?
- Why Is SenesTech (SNES) Stock Up 47% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
