Why Is RAPT Therapeutics Stock Falling In Pre-market?

(RTTNews) - RAPT Therapeutics, Inc. (RAPT) said it is terminating zelnecirnon program. Zelnecirnon was being evaluated in two randomized, placebo-controlled Phase 2 clinical trials in asthma and atopic dermatitis, and both trials were placed on clinical hold by the FDA in February 2024. The company subsequently closed both studies. Following feedback recently received from the FDA, the company has stopped zelnecirnon program.

Brian Wong, President and CEO of RAPT, said: "We plan to continue advancing our next generation CCR4 compounds with improved safety margins for inflammatory disease and expect to identify a new candidate in the first half of 2025."

Shares of RAPT Therapeutics are down 49% in pre-market trade on Monday.

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