02:31 PM EDT, 05/09/2024 (MT Newswires) -- RAPT Therapeutics ( RAPT ) shares plunged more than 40% in recent Thursday trading after the drugmaker reported a wider loss in Q1 and closed its clinical trials of zelnecirnon in atopic dermatitis and asthma.

The company reported a Q1 loss of $0.79 per diluted share, wider than a loss of $0.76 a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.82.

RAPT also said it closed its phase 2b study of zelnecirnon in atopic dermatitis and phase 2a study of zelnecirnon in asthma after they were put on clinical hold by the US Food and Drug Administration in February due to a serious adverse event of liver failure in one patient in the atopic dermatitis trial.

"Although there were a significant number of patients who were unable to complete the AD trial due to the hold, we believe we will have sufficient data, even if not statistically significant, to inform our path forward and support our discussions with the FDA," said CEO Brian Wong.

The clinical-stage company said it expects to complete the analysis of its data in Q3.

Price: 4.72, Change: -3.26, Percent Change: -40.85