Ultragenyx Stock Falls Over 46% Following Trial Setback
Ultragenyx Pharmaceutical (RARE) experienced a significant drop in its stock price after announcing setbacks in late-stage trials for apazunersen, an experimental treatment for Angelman syndrome. The company's shares fell more than 46%, reaching an all-time low on Thursday following the news and subsequent downgrades from analysts. The trial setback has raised concerns about the drug’s potential approval and commercial viability, leading to multiple analyst downgrades. Apazunersen is being developed for a rare neurogenetic disorder affecting children, where treatment options are limited but demand remains high due to unmet medical needs.
Tickers: $RARE
Topics: clinical trials downgrades pharmaceuticals stock price movement