Shares of Arsanis Inc., a clinical-stage biotech, slid 73% in premarket trade Thursday, after the company said it is discontinuing a Phase 2 trial of a treatment for pneumonia in high-risk, mechanically ventilated patients after determining that it was unlikely to meet its main goals. The trial sought to evaluate ASN100 in reducing S. aureus pneumonia compared to placebo. “We are disappointed that this clinical study was futile despite the survival benefit of ASN100 as compared to placebo observed in preclinical models of pneumonia, however Arsanis remains confident in the potential of monoclonal antibodies to prevent and treat serious infections, while also reducing the threat of antibiotic resistance,” said René Russo, chief executive of Arsanis. The company will not focus its efforts on the development of ASN500 for the prevention of respiratory syncytial virus (RSV) infection, which contributes to 240,000 hospitalizations a year in the U.S. Shares have gained 43% in 2018 through Wednesday, while the S&P 500 SPX, -0.09%has gained 1%.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.