Shares of uniQure (NASDAQ: QURE) were down more than 11% as of 1:06 p.m. on Tuesday after the gene-therapy company announced that the Food and Drug Administration (FDA) had cleared its investigational new drug (IND) application for AMT-260, a treatment for refractory mesial temporal lobe epilepsy (MTLE).

The disease is a chronic neurologic disorder, considered the most common form of focal epilepsy (which affects one side of the brain). More than 600,000 people in the United States suffer from MTLE.

At one point on Tuesday morning, the stock fell to a 52-week low of $7.40.

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Source Fool.com