FDA Puts Hold On RAPT's Phase 2 Trials For Zelnecirnon In Atopic Dermatitis, Asthma; Stock Tanks 65%

(RTTNews) - RAPT Therapeutics, Inc. (RAPT), Tuesday announced that the U.S. Food and Drug Administration or FDA had verbally put on hold the company's Phase 2b trial of zelnecirnon in atopic dermatitis and its Phase 2a trial in asthma, citing a liver failure event in one patient.

The cause of liver failure is currently unknown but it is allegedly related to zelnecirnon. However, no liver toxicity had been found in other trial patients.

"This is an unfortunate and unexpected event, and we are working diligently to get more information on this case," said Brian Wong, M.D., Ph.D., President and CEO of RAPT Therapeutics. "Patient safety is our top priority and we will work with the FDA to resolve this as quickly as possible."

Currently, RAPT's stock is plummeting 65.59 percent, to $8.97 from the previous close of $25.97 on the Nasdaq.