Seattle Children's Therapeutics paused a study of 2seventy Bio's acute myeloid leukemia treatment on Wednesday after a patient died. In response, TSVT stock gapped down to its 50-day line.
The company and hospital are partnering to study 2seventy's treatment for pediatric acute myeloid leukemia, a type of bone marrow cancer that occurs in children and young adults. One patient died after receiving the midlevel dose of 2seventy's drug in the Phase 1 study.
"Importantly, I'd like to offer that our thoughts are with the family during this time," 2seventy Chief Medical Officer Steve Bernstein said in a written statement.
On today's stock market, TSVT stock tumbled 9% to close at 10.75.
TSVT Stock: First Test In People
This is the first study of 2seventy's immuno-oncology platform in people. It's unclear now whether the patient's death was due to the treatment.
"The safety of every patient who participates in our studies or is treated with our therapies is the utmost priority for us, and we are in communication with the (Food and Drug Administration) while we assess the data surrounding this (serious adverse event), and the potential next steps for the study," Bernstein added.
The news pushed TSVT stock down to its 50-day moving average, MarketSmith.com shows. Shares had been markedly above that point since early May, and were making a run at their 200-day line.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
