Edgewise Therapeutics rises on positive safety data from heart disease drug trial

Shares of biotech company Edgewise Therapeutics EWTX.O rise 20.4% to $26.18

Company says its experimental heart disease drug showed positive safety results in a mid-stage study

EWTX was testing its drug, EDG-7500, in patients with hypertrophic cardiomyopathy, a type of heart disease that thickens the heart muscle, making it harder to pump blood

The drug showed no clinically meaningful changes in left ventricular ejection fraction (LVEF): a predictor of heart failure and no events of atrial fibrillation (afib) - irregular heart rate

"Safety continued to look clean with no clinically meaningful LVEF drops, and no LVEF excursions <50%" - RBC Capital Markets

"Of note, EWTX reported an additional new-onset afib case... We think this still leaves questions on safety that'll take more than additional open-label data to disprove"- Stifel

Including session moves, shares down 3.5% YTD