Lpath's Asonep fails to meet primary endpoint at Phase IIa; shares slide
USA-based Lpath (Nasdaq: LPTN) says that its investigational therapy Asonep (sonepcizumab) did not meet the primary endpoint in a Phase IIa trial in renal cell carcinoma.
Lpath shares fell as much as 39% on the announcement, and were down 25% at $2.45 in after-hours trading yesterday.
The Phase IIa trial showed that Asonep did not meet the primary endpoint of significantly improving progression-free survival, but Dario Paggiarino, chief development officer at Lpath, said the results "suggest that in some patients with lower risk of disease progression based on prognostic factors, Asonep may produce prolonged disease stability for up to 20 months."
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