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Shares of Third Harmonic Bio Inc. tumbled 75% in premarket trading on Thursday after the company said it discontinued the Phase 1b study of its treatment for chronic inducible urticaria, a common inflammatory skin condition, over safety concerns. Third Harmonic said it plans to provide the full data from the study as well as an update on its corporate strategy in early 2023. The company’s stock is up 0.6% over the last three months, while the S&P 500 is down 16.1%.
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