The sun and shares are rising again at LogicBio after the FDA lifted a clinical hold on a genome editing therapy for children with a rare disorder.
Shares of the Lexington, Massachusetts-based biotech were sent skyward by 60% as the markets opened Monday morning on the news that the phase 1/2 SUNRISE trial will get underway again. Even with that rapid climb, the shares are only worth 79 cents apiece, but the rally was much needed after the hold put a cash-strapped LogicBio in a tough position.