SNY - Why Amicus Therapeutics Stock Folded in September
Shares of the rare disease specialist Amicus Therapeutics (NASDAQ: FOLD) fell by 18.9% last month, according to data from S&P Global Market Intelligence. What's been weighing on this top orphan-drug stock?
Amicus' stock has been imploding over the last two months due to the concern that Sanofi's Pompe disease therapy, neoGAA, may gain a key first-mover advantage over the biotech's experimental AT-GAA treatment. Pompe disease is a genetic disorder caused by a deficiency in the acid alpha glucosidase enzyme that results in the buildup of a complex sugar known as glycogen in the body's cells.
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