BridgeBio Pharma's Decision to Drop Gene Therapy Program for AAV
Wednesday, 11 September 2024, 08:16
BridgeBio Pharma's Latest Developments
In a significant move, BridgeBio Pharma, a California-based biotech firm, announced that it has dropped its gene therapy program targeting adeno-associated virus (AAV). This decision came after the company reported disappointing clinical results during early-stage trials. As a direct consequence of this announcement, BridgeBio's shares dipped by 4%, closing at $29.60.
Implications for the Biotech Sector
- The fallout from this decision highlights the risks associated with developing gene therapies.
- Investors are now evaluating potential alternative therapies within the sector.
- This trend could affect overall market confidence in similar biotech initiatives.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.