Global Blood Shares Weak Into ASCAT; Concern With Timeline Of Sickle Cell Treatment May Be Weighing
Global Blood Therapeutics Inc (NASDAQ: GBT) shares are down 7.4 percent Wednesday on no official news from the company. However, a source familiar with the matter has told Benzinga that investors are concerned that the company’s 28-day efficacy timeline for GBT440 may need to be extended to around six months.
The 2016 Sickle Cell and Thalassaemia Conference (ASCAT) begins in London today and carries on through the end of the week. Traders may be concerned about what news, if any, they will hear from the conference regarding Global Blood and GBT440.
GBT440 is Global Blood’s once-daily oral drug candidate to treat sickle cell disease. GBT440 is the company’s leading candidate and is one of only two candidates in its pipeline at the moment.
Around 2 p.m ET, A Bloomberg's Sasha Ellis Tweeted, "$GBT started to tumble after doctors during today's Cowen panel were "skeptical" about GBT440 mechanism, an attendee told me."
Back in June, Global Blood reported the following 28-day test results from three different dosing levels of GBT 440:
“The therapeutic target between 10-30% Hb modification was achieved at GBT440 doses >= 500 mg. A consistent beneficial effect was seen in at least one key parameter: hemolysis, reticulocytosis or sickle cell counts.”
A source familiar with the matter told Benzinga on Wednesday that the company Global Blood may be questioned about its 28-day timeline for GBT440 treatment at the ASCAT conference. The source believes that the company could be forced to acknowledge that a 6-month treatment is more realistic time-frame.
A representative from Global Blood was not immediately available for comment.
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