Entrada Therapeutics, Inc. (NASDAQ:TRDA) stock is trading lower on Thursday as the stock reacts to news regarding its clinical trial data in Duchenne muscular dystrophy patients.
Phase 1/2 Data Falls Short Of Investor Expectations
The company on Thursday released topline data from Cohort 1 of the multiple ascending dose (MAD) portion of the Phase 1/2 ELEVATE-44-201 clinical study of ENTR-601-44 in ambulatory participants ages four to 20 with a confirmed mutation in the DMD gene amenable to exon 44 skipping.
The data demonstrated an increase of 2.36% in dystrophin over a baseline of 4.00% and an increase of 2.31% in exon skipping over a baseline of 2.66% in treated participants.
Analyst Take
William Blair noted that the stock is plunging as the measurements of dystrophin protein expression after ENTR-601-44 treatment, the main efficacy-based endpoint of focus for investors, showed a 2.36% increase from baseline, which missed the base case of 10%.
The data also showed statistically significant and potentially differentiated improvement in treated participants versus placebo in Time to Rise (TTR) velocity, a clinically validated functional measurement.
Mean change in TTR velocity versus placebo of 0.115, and mean change in TTR velocity for the treatment group of 0.08.
The company has initiated dosing of ELEVATE-44-201 Cohort 2 at the increased dose of 12 mg/kg and is on track to report data by year-end 2026.
TRDA Technical Analysis: Key Support, Resistance And Momentum
The stock’s current price of $7.23 is significantly below its moving averages, with the 20-day simple moving average (SMA) at $13.81, indicating it is 44.3% below this level.
The relative strength index (RSI) currently sits at 71.74, suggesting the stock is in overbought territory, which may contribute to the downward pressure as traders take profits after the recent highs.
Key Resistance: $8.50 — a nearby level where rebounds can stall. Key Support: $7.50 — a nearby level where buyers previously stepped in.
TRDA Price Action: Entrada Therapeutics shares were down 59.48% at $7.00 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: Studio Romantic / Shutterstock
Recent Comments