Verve shares fell the most in five months after the company said US regulators requested additional information before allowing a test of its gene therapy to begin.
Verve said Monday in a regulatory filing that the FDA wants more information about the risks and benefits of certain drugs and their effects on the body. The FDA wants to see data from trials taking place outside the US, as well as Verve adding tighter contraceptive requirements.
Verve applied in October to begin human testing of the treatment in the US. Verve is testing the therapy in New Zealand and the UK to see if it works. The data will be shared in the second half of next year.
The FDA's feedback could have been harsher, but it still shook investors who are nervously watching the field that aims to make permanent changes in human genes in order to treat and possibly cure disease. Verve's share price fell in New York.
The firms that are developing gene-editing treatments fell as well. The company licenses its editing system to Verve.
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