Benzinga | Jun 11, 2021 02:13PM EDT

Forma Therapeutics Stock Drops After Disappointing EHA Presentation For Etavopivat In Sickle Cell Disease

* Forma Therapeutics Holdings Inc (NASDAQ:FMTX) announced new data from its ongoing Phase 1 trial of etavopivat (FT-4202) in sickle cell disease.

* Data were presented at the Annual European Hematology Association (EHA) 2021 Virtual Congress.

* The presentation included initial data from the open-label extension (OLE) cohort showing etavopivat improved and sustained hematologic and hemolytic parameters.

* The company also presented unblinded results from the two multiple ascending dose (MAD) cohorts, which demonstrated once-daily dosing of 300 mg or 600 mg etavopivat for 14 days improved sickle red blood cell functional health measures with effects persisting in some patients even after treatment discontinuation.

* Improvement in red blood cell functional health markers was observed, including data on measures of cell membrane integrity and systemic biomarkers of inflammation and coagulation.

* Price Action: FMTX shares are down 18.8% at $22.77 during the market session on the last check Friday.