Entrada Therapeutics Inc TRDA Shares traded lower in Monday’s after-hours session after the company said it received a clinical hold notice from the US Food and Drug Administration.

What happened: Entrada received a clinical embargo notice from the FDA regarding its new drug investigational application for ENTR-601-44 for the potential treatment of Duchenne muscular dystrophy.

The FDA said it will issue an official clinical hold letter to Entrada within 30 days.

“The clinical standstill of our ENTR-601-44 program is disappointing and we will work to address the FDA’s concerns about the IND. There are no approved Duchenne therapies for people with skippable Exon 44 mutations and we are committed to breaking this deadlock and moving forward along the treatment development path,” said Dipal DoshiPresident and CEO of Entrada.

Entrada is a biopharmaceutical company dedicated to transforming the lives of patients by developing a new class of drugs to reach intracellular targets long thought unattainable.

TRDA Price Action: Entrada shares are down 32.10% after the close of business to $13.50 at the time of publication, it said Gasoline Pro.

Photo: Michal Yarmoluk from Pixabay.