4D Molecular Shares Hit 52-Week Low After Roche Ends Collaboration Agreement
June 24 2021 - 1:11PM
Dow Jones News
By Chris Wack
4D Molecular Therapeutics Inc. shares were down 12% at $21.80
after the company said it received a notice of termination of the
collaboration and license agreement by 4D-110 licensee Roche
resulting in full rights to 4D-110 for choroideremia reverting to
4D Molecular.
Volume for the stock was 509,000 shares at 1:40 p.m. ET,
compared to its 65-day average volume of 119,000 shares. The stock
hit its 52-week low of $21.40 earlier in the session.
The company said Roche requested that 4D Molecular end the
Roche-funded 4D-110 trial in advanced choroideremia patients as a
result of Roche's assessment of a change in the risk-benefit
profile.
Roche sent a notice of termination without cause, effective
Sept. 16, with 4D Molecular regaining full rights to 4D-110.
4D Molecular said it hasn't changed its position on the
potential of 4D-110 for choroideremia, and intends to continue
clinical development. The company said it plans to submit to the
Food and Drug Administration safety and efficacy data from the
completed Phase 1 clinical trial along with a new clinical study
protocol as soon as possible.
The company said it will conclude the Roche-funded clinical
trial under the collaboration and plans to subsequently transfer
previously treated patients onto a company-sponsored long-term
follow-up study to continue monitoring biologic activity endpoints,
safety and tolerability.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 24, 2021 14:01 ET (18:01 GMT)
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