Edgewise Therapeutics Stock Falls 26% Despite Positive Trial Data

(RTTNews) - Edgewise Therapeutics, Inc. (EWTX) is trading at $14.98, down 25.61 percent or $5.15 during Wednesday's trading, after the company announced positive top-line data from its Phase 2 CIRRUS-HCM trial evaluating EDG-7500 in participants with hypertrophic cardiomyopathy.

The stock opened at $14.50 and has traded between $12.18 and $15.69 today, compared to a previous close of $20.13 on the Nasdaq. Volume has surged to 8.58 million shares, significantly above the average of 1.19 million. The stock's 52-week range stands between $12.18 and $38.12.

While the study showed improvements in cardiac function and symptom relief without affecting systolic function, concerns over adverse events, including atrial fibrillation requiring cardioversion, may be weighing on investor sentiment.