Novel antibiotic fails in Phase III test

Antibiotic and immuno-oncology specialist Polyphor (SIX: POLN) has finally closed the Phase III PRISM MDR and UDR studies of murepavadin, the Swiss firm’s lead candidate for hospital-acquired and ventilator-associated bacterial pneumonia.

The firm’s stock fell around 50% when news of the trial hold was  first announced in early May. After announcing that the study would be closed altogether, shares fell 20% to a new low on Wednesday.

Polyphor is developing therapies using novel “macrocycles” technology, which it says represents a new drug class, complementary to traditional small molecules and biopharmaceuticals.