The clinical disappointment centers on the treatment's inability to provide a statistically significant benefit for patients suffering from the fatal, protein-buildup condition. Despite the setback, Ionis CEO Brett Monia suggested the data could still inform future research into the disease, even as the company grapples with the immediate market fallout.
In section Market Quotes
Ionis Pharmaceuticals Shares Plummet Following Heart Drug Trial Failure
A 23% premarket collapse greeted Ionis Pharmaceuticals on Thursday after its experimental heart medication, eplontersen, failed a critical late-stage study. The drug, designed to treat transthyretin-mediated amyloid cardiomyopathy, missed its primary efficacy target, leaving investors to weigh the sudden loss against the company's previous modest gains this year.
Ionis developed the drug in partnership with AstraZeneca, which also saw its own shares slide 8.2% to $173.85 before the opening bell. While the study failed its primary goal, the company reported that eplontersen remained well tolerated by participants, maintaining a safety profile consistent with earlier testing phases.
Comments (0)
No comments yet. Be the first!