-- Entrada Therapeutics (TRDA) shares were down nearly 58% in Thursday afternoon trading after its drug for children with Duchenne muscular dystrophy fell short of analyst expectations in an early-to-mid stage trial, Reuters reported Thursday.
Entrada said Thursday that treated patients showed a 2.36% increase in dystrophin over a baseline of 4%.
William Blair analyst Myles Minter expected a placebo-adjusted dystrophin increase of at least 10% as his base case for the drug, while the firm's own model estimated around 11%, Reuters reported.
The data also compares unfavorably with del-zota, Avidity Biosciences' rival exon-44 skipping drug, which reported placebo-adjusted dystrophin increases of around 25% in its early-to-mid stage trial. Oppenheimer analysts had set that benchmark for Entrada's success as well, Reuters said.
Price: $6.77, Change: $-9.26, Percent Change: -57.77%