Aeglea Nosedives After Clinical Update On Investigational Candidate For Rare Metabolism Disease

Aeglea BioTherapeutics Inc AGLE has appointed Jeffrey M. Goldberg as president, chief executive officer, and a board member, effective November 29, 2022.
Jim Kastenmayer will step down as interim chief executive officer and retain his position as Aeglea's general counsel.
Following the leadership transition and as part of the related evaluation of near-term corporate and clinical development strategy, Aeglea no longer plans to announce interim clinical data from the ongoing Phase 1/2 trial of pegtarviliase in Classical Homocystinuria in the fourth quarter of 2022.
Enrollment in the third cohort of the Phase 1/2 trial is ongoing, with two patients having completed dosing in the cohort.
In October, the FDA placed a partial clinical hold for enrolling patients under 18 years of age under the Phase 1/2 trial of pegtarviliase for Classical Homocystinuria Investigational New Drug (IND).
Additionally, the company has decided not to participate in the Piper Sandler 34th Annual Healthcare Conference and the 5th Annual Evercore ISI HealthCONx Conference.
Aeglea looks forward to delivering a clinical update on the pegtarviliase program when more comprehensive data from the third cohort becomes available.
Price Action: AGLE shares are down 58.9% at $0.5010 on the last check Wednesday.