- Aeglea BioTherapeutics Inc (NASDAQ:AGLE) shares are plunging in reaction to the interim results from the Phase 1/2 trial of pegtarviliase for Classical Homocystinuria and strategic alternatives process.
- Classical Homocystinuria is a rare inherited methionine metabolism disorder resulting in elevated homocysteine levels.
- Results from the first two cohorts (0.15 mg/kg and 0.45 mg/kg, respectively) showed pegtarviliase lowered homocysteine levels compared to baseline.
- Also Read: Aeglea Nosedives After Clinical Update On Investigational Candidate For Rare Metabolism Disease.
- Results from the third cohort (1.35 mg/kg) did not show a consistent reduction in homocysteine levels.
- Further analysis indicated that participants in the third cohort developed anti-drug antibodies.
- Pegtarviliase was well tolerated, with the majority of adverse events being Grade 1 or Grade 2 injection site reactions (76.9%) and hypersensitivity reactions (15.3%), which were managed with antihistamine and/or steroid treatment.
- After reviewing the interim results, the company announced it is exploring strategic alternatives.
- Aeglea has engaged Wedbush Securities to assist in exploring strategic alternatives.
- As part of this process, Aeglea will reduce its workforce and retain approximately ten employees.
- The company also announced the departures of Michael Hanley, chief business officer, and Linda Neuman, chief medical officer.
- Price Action: AGLE shares are down 24.19% at $0.1952 on the last check Wednesday.
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