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Beam hold being lifted ‘encouraging’ for Verve Therapeutics, says Guggenheim
The Fly

Beam hold being lifted ‘encouraging’ for Verve Therapeutics, says Guggenheim

After Beam Therapeutics (BEAM) announced this morning that the FDA has lifted the clinical hold and cleared the Investigational New Drug application for BEAM-201 for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia, Guggenheim analyst Seamus Fernandez said the news is "encouraging" for Verve Therapeutics’ (VERV) own IND hold. Fernandez reminds investors that Verve received verbal communication from FDA of an IND hold for the heart-1 trial of VERVE-101 on November 4 and said management expects a formal written letter at or around December 2, while also noting that they had not received an update as of November 29. Verve’s current stock price reflects a 6-9 month delay, but "a clear path to IND," with near-term upside potential from a more benign letter akin to Beam’s roughly four month resolution for BEAM-201, said Fernandez, who has a Buy rating on Verve shares.

Published first on TheFly

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