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After the market closed on December 19, 2022, Entrada issued a press release announcing that the U.S. Food and Drug Administration (“FDA”) had placed a clinical hold on the Company’s Investigational New Drug Application for ENTR-601-44 (a drug for the potential treatment of Duchenne muscular dystrophy). The FDA indicated that they would provide an official Clinical Hold letter to Entrada within 30 days. On this news, Entrada’s stock price fell 19.76%, to close at $15.96 per share on December 20, 2022. Then, on November 22, 2023, Entrada announced that, after reevaluating additional information on ENTR-601-44, the FDA refused to lift the previously announced clinical hold on its Phase 1 trial.
On this news, Entrada’s stock price fell over 31%, to close at $11.36 per share on November 22, 2023.