12:36 PM EDT, 04/03/2025 (MT Newswires) -- Edgewise Therapeutics' ( EWTX ) management strongly believes that atrial fibrillation reported by some patients in a phase 2 study was not driven by EDG-7500 as there is no correlation between the cases and higher exposure to the drug, RBC Capital Markets said in a note on Wednesday.

The biopharmaceutical company reported Wednesday "positive" results for the phase 2 trial evaluating EDG-7500 in patients with obstructive or nonobstructive hypertrophic cardiomyopathy and said the most frequent adverse events were dizziness, upper respiratory tract infection and atrial fibrillation. Almost all of the adverse events were mild to moderate in severity, Edgewise said.

RBC analysts said they still recognize a potential risk that atrial fibrillation could be drug-related, but added they believe future data sets including 12-week data due in H2 "should help provide evidence that '7500 is not a driver of afib."

The firm has an outperform, speculative risk rating on the stock and cut its price target to $52 from $56.

Shares were down over 12% in recent trading.

Price: 13.64, Change: -1.88, Percent Change: -12.11