Verve Therapeutics reports good early test results for cholesterol drug, shares soar

Shares of Verve Therapeutics, a biotech small cap specializing in gene-editing medicines to treat cardiovascular disease, surged more than 26% yesterday, April 14, after the company reported positive early trial results for its therapy for high cholesterol.

Verve jumped over 26% on the Nasdaq yesterday to close at $4.10 per share. It gained about another 2% in after-hours trading.

The company announced that its gene-editing therapy Verve-102 — which aims to lower cholesterol and treat premature coronary artery disease — had performed well in a phase I trial. All 14 participants tolerated the treatment without adverse effects or significant lab abnormalities. Following a single dose, levels of LDL-C (low-density lipoprotein cholesterol —  “bad” cholesterol) fell an average of 53%. Among the four participants who received the highest dose, LDL-C dropped 69%.

In a note to clients released yesterday, William Blair analyst Miles Minter called the results a “best-case scenario for Verve shares,” according to Bloomberg.

Of the analysts covering the company, eight currently rate the stock a “buy,” while two have it as a “hold,” according to MarketWatch.

Verve Therapeutics is a U.S.-based biotech company developing a new class of gene-editing medicines for cardiovascular disease.

Its goal is one-time gene-editing therapies that offer permanent protection. This would eliminate the need for people with high cholesterol to take pills daily for the rest of their lives.

With Verve-102, the company aims safely to deactivate specific genes that are known drivers of cardiovascular disease, particularly those involved in regulating cholesterol and lipid levels.

Last year, Verve paused enrollment in an earlier trial after one participant developed abnormal liver enzymes and thrombocytopenia (a condition involving low blood platelet counts). The company attributed these issues, resolved within days, to the lipid nanoparticles used in delivery of the drug.

On Friday, April 11, Verve also announced that the U.S. FDA had granted fast track designation to Verve-102, potentially speeding up the review process.