Why Global Blood Therapeutics Trended Upward Today

Alex Carchidi, The Motley Fool

June 29, 2022 at 3:27 p.m.·2 min read

Global Blood Therapeutics' (NASDAQ: GBT) stock rose by more than 8.2% on Wednesday as of 2:40 p.m. ET on news that the company initiated a phase 2/3 clinical trial for its candidate called GBT601, which is being developed to treat sickle cell disease. The trial will be the biotech's fourth ongoing late-stage sickle cell disease therapy project, not to mention a trio of earlier-stage projects for the same indication. Global Blood Therapeutics already has one medicine approved to treat sickle cell disease called Voxelotor.

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