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id: 436, Created by Stan Vick, Scout
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On November 7, 2022, Verve (VERV) announced that the FDA placed a hold on the company's Investigational New Drug (IND) application, halting a potential clinical trial for VERVE-101 to treat patients with heterozygous familial hypercholesterolemia (HeFH), a type of atherosclerotic cardiovasculorphan disease.
Verve had planned to use its gene-editing medicine to turn off the PCSK gene in the liver to reduce lipoprotein cholesterol (LDL-C), known to cause cardiovascular disease by building up in the arteries, leading to reduced blood flow or blockages and eventually, a heart attack or stroke.
On this news, VERV shares dropped more than 30% and the Company lost over $0.5 billion of its capitalization, seriously damaging shareholers.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
07 November 2022