The Translate Bio Inc. (TBIO) stock lost 22.10% in the pre-market trading on Thursday, March 18 2021 after TBIO announced the clinical trial results of its RNA drug. The negativity continuous in the pre-market session as of this writing and it lost a further 25.10%.
TBIO shared the news with the market yesterday March 17, 2021, and according to the results RNA drug failed to improve lung function in cystic fibrosis patients and the news sent TBIO stock plummeting.
Although no adverse reaction was noted except mild to moderate symptoms of a febrile reaction such as fever, headache and chills occurred in three patients after the first dose of MRT5005 and it didn’t improve lung function.
Translate Bio Chief Medical Officer Ann Barbieris still hopeful and said that based on the first and second interim analyses. TBIO stock has achieved a safety profile that supports repeat dosing of inhaled mRNA and further advancement of the pulmonary platform for chronic dosing.
Cystic fibrosis is the most common fatal inherited disease in the United States, affecting more than 30,000 patients in the U.S. and more than 70,000 patients worldwide.
COVID-19 Vaccine update
On March 15, 2021, Translate Bio and its partner Sanofi showed their initiation of a phase I/II study on their mRNA-based vaccine candidate, MRT5500, to check the vaccine’s safety & immune response. Companies are looking to enroll 415 adults. Trial data is expected to be available in the third quarter of 2021.
Granting non-qualified stock options
On March 3, 2021, TBIO stock told that it has granted non-qualified stock options to purchase an aggregate of 54,250 shares, for $23.80 per share of TBIO’s common stock to seven newly hired employees.
TBIO is developing a revolutionary class of potential medicines, based on mRNA, to treat or prevent debilitating or life-threatening diseases. TBIO was founded in 2001 and its headquarter is in Lexington, Massachusetts, United States. TBIO has its own mRNA therapeutic platform (MRT) and is using to treat pulmonary diseases caused by insufficient protein production or where the production of proteins can modify disease.