Edge falls off the cliff as Phase III trial flops

28 March 2018

US biotech Edge Therapeutics (Nasdaq: EDGE) saw its share price drop by 92% on Wednesday, with its value scraping along at $1.22 at lunchtime.

It follows the company’s announcement on discouraging data from pre-specified interim analysis from the day 90 visit of the first 210 subjects randomized and treated in the Phase III NEWTON 2 study of its lead product, EG-1962, in adults with aneurysmal subarachnoid hemorrhage (aSAH).

The independent Data Monitoring Committee (DMC) recommended that the study be stopped based on its conclusion that the study has a low probability of meeting its primary endpoint.

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