Imara slumps as it drops development sickle cell candidate tovinontrine

Shares of US drug developer Imara (Nasdaq: IMRA) closed down 22% at $1.27 yesterday having tanked as much as 34%, after it announced disappointing results from interim analyses of its Ardent Phase IIb clinical trial of tovinontrine (IMR-687) in patients with sickle cell disease (SCD) and Forte Phase IIb clinical trial of tovinontrine in patients with beta-thalassemia.

Imara also announced that, because of the data generated by these interim analyses, the company will discontinue the Ardent and Forte trials as well as the further development of tovinontrine in sickle cell disease and beta-thalassemia.

“We are disappointed in the outcome of both of the interim analyses in our Phase IIb studies for sickle cell disease and beta-thalassemia, and particularly that the Ardent trial interim analysis did not replicate our previously observed positive vaso-occlusive crisis data,” said Rahul Ballal, president and chief executive of Imara, adding: “We plan to discontinue both studies during the second quarter. As we do this, we remain deeply grateful to the patients, investigators and their teams for their participation in these trials and to the extended Imara team for their role and dedication in generating the comprehensive interim results."