Maze Therapeutics saw its market cap drop by nearly a third following mixed results from a midstage trial for its kidney disease drug. Despite outperforming Vertex Pharmaceuticals' asset, investor concerns about the broad population data have negatively impacted the company's stock.
Besting Vertex Pharmaceuticals’ kidney disease asset wasn’t enough to impress Wall Street, which appears to be “getting hung up” with the broad population data in Maze Therapeutics’ trial, according to Mizuho.
Original title: “Maze Loses Nearly a Third of Market Cap on Mixed Midstage Kidney Drug Data”