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Gemini Therapeutics Falls 35%

Shares of clinical stage precision medicine company Gemini Therapeutics, Inc. (GMTX) are down 35 percent on Tuesday's after-market trade as the company announced initial data from its Phase 2a ReGAtta study of its GEM103 drug as of May 2021 in patients with geographic atrophy secondary to dry age muscular degeneration.

The company said that the Phase 2a study has shown that GEM103 has biological activity and support CFH's mechanism of action to regulate complement activity in patients with dry AMD. Critically, GEM103 also continues to show a positive safety profile in the setting of repeat dosing for up to six months, Gemini Therapeutics added.

The stock ended Tuesday's trade at $9.77, down $0.46 or 4 percent on the NYSE. In after-market trading, GMTX is down $3.15 or 35% to touch $6.15.

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