Rocket Pharma hits record low after patient death during gene therapy trial

Shares of drug developer Rocket Pharmaceuticals RCKT.O plummet as much as 63.3% to a record low of $2.30

Stock set for its worst day in over 8 years, if losses hold

Co says patient participating in mid-stage trial studying its experimental gene therapy, RP-A501, died after acute systemic infection

U.S. FDA last Friday placed clinical hold on trial to allow further evaluation

RCKT says it voluntarily paused further dosing in study after it learnt the patient experienced unexpected adverse event involving clinical complications related to capillary leak syndrome, where fluid leaks from small blood vessels into surrounding tissues

Adds it is unable to provide guidance on anticipated timing for trial's completion

Trial was studying gene therapy for Danon disease - rare genetic disorder that often affects heart and skeletal muscles and can lead to intellectual disabilities

Including session's move, stock down 78.4% YTD