Shares of the Freeline Therapeutics Holdings plc (FRLN) stock were soaring in the current market trading session today on January 6, 2022. FRLN stock price saw a surge of 12.24% to reach $2.20 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 3.45% at closing. Let’s deep dive to understand the current bullish sentiment.
What’s Happening?
There is indeed a piece of positive news behind the rise in the per-share price of the FRLN stock. The company reported that the U.S Food and Drug Administration has cleared the New Drug application for FLT201. Thinking about FLT201? It is the gene therapy to treat patients with Gaucher disease Type 1. This is an important milestone for the company and positive news for the shareholders of FRLN stock.
Freeline at the end of 2021 started Phase 1/2 dose-finding trial of FLT201. The company is hoping for the first dose cohort in which it will dose two patients in the first quarter of 2022. The initial safety and biomarker data from the first dose cohort is expected in the third quarter of 2022. The company is expecting to release the data of all dosed patients before the end of the year 2022.
What’s next for FRLN stock?
According to Freeline’s officials, the company aims to advance the development of therapies in the year 2022. The management is hopeful that the company will deliver best-in-class or first-in-class treatments as the focus is on the long-term success of the company as well as FRLN stock.
The company is advancing the FLT180a for hemophilia B at a fast pace and enrolled sufficient numbers of patients for the trial already. The focus this year will be the dosing of the patients. The company believes that the FLT180a is a potentially strong treatment for hemophilia B.
Freeline is also looking forward to advancing the FLT190 for the patients with Fabry disease in this entire year. The goal in 2022 is to add additional patients to the dosing process in order to gather the data. The company reported that it will dose the third patient in the ongoing clinical trial within the first six months of 2022.
Wrap Up:
Investors are happy with the recent announcement of Freeline Therapeutics and responding positively towards FRLN stock. Investors having long-term prospects need to keep an eye on this stock.
