Wave Life Sciences (NASDAQ:WVE) plummets 59% premarket on light volume in reaction to its decision to stop development of suvodirsen for the treatment of Duchenne muscular dystrophy (DMD) in patients amenable to exon 51 skipping.
The company made its decision after interim results from a Phase 1 study failed to show a change from baseline in dystrophin expression.
Two other suvodirsen trials, on open-label extension study and Phase 2/3 DYSTANCE 51, will be terminated as well.
The company is also axing development of WVE-N531 for the potential treatment of DMD patients amenable to exon 53 skipping, representing a complete exit from DMD.
DMD leader Sarepta Therapeutics (NASDAQ:SRPT) is up 2% premarket.
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