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Uniqure said Monday an independent panel recommended it continue enrolling patients in a study of its Huntington's disease gene therapy. In response, QURE stock popped on the news.
Shares of UniQure gained 7.2% in trading on Monday after the company said an independent data safety monitoring board said there were no safety concerns in a Phase 2/3 clinical trial for its experimental Huntington's disease treatment. The board has reviewed six months of safety data for the first two patients enrolled in the randomized, double-blind study. UniQure said it expects to enroll six more patients who have been diagnosed with the rare neurodegenerative disease by mid-2021. The investigational gene therapy is called AMT-130. "While early, we remain bullish about uniQure's [Huntington's disease] gene therapy and continue to believe the program is nearly all upside from current levels," Raymond James analyst Danielle Brill wrote in a note to investors. Uniqure's stock is down 35.9% for the past year, while the broader S&P 500 has gained 16.5%.