Ultra-thinly traded micro cap Aridis Pharmaceuticals (NASDAQ:ARDS) slumps 27% premarket on light volume in reaction an unsuccessful Phase 2 clinical trial evaluating candidate AR-105, a fully human IgG1 monoclonal antibody, for the treatment of ventilator-associated pneumonia caused by Gram-negative Pseudomonas aeruginosa.
AR-105 failed to sufficiently separate from placebo in terms of clinical cure rate at day 21. There were also statistically significant imbalances in all-cause mortality and serious adverse events (SAEs) between the treatment and placebo arms, although no SAE or death was determined to be related to AR-105.
The company will not allocate any further resources to development.