Circassia fails in cat allergy Phase III study

UK-based clinical-stage firm Circassia Pharmaceuticals (LSE: CIR) says that its investigational cat allergy immunotherapy has failed to achieve the primary endpoint of a Phase III study.

In the study, both treatment regimens and placebo greatly and equally reduced subjects’ combined allergy symptom and rescue medication use score from baseline. As a result of the very marked placebo effect, the primary endpoint was not met.

News of this sent Circassia’s share price spiralling down by 66.3% on Monday.