Omeros pulls plug on Phase III trial of narsoplimab in IgA nephropathy
Seattle, USA-based biotech Omeros Corporation (Nasdaq: OMER) saw its shares plummet as much as 58% to an all-time low of $0.92 yesterday, after it said it will discontinue development of an experimental therapy to treat a type of kidney disease after a late-stage study failure.
This was due to an update regarding the interim analysis outcome in ARTEMIS-IGAN, the company’s Phase III trial evaluating narsoplimab for the treatment of immunoglobulin A (IgA) nephropathy.
The primary endpoint is reduction in proteinuria assessed by 24-hour urine protein excretion (UPE) at 36 weeks compared to placebo in the intent-to-treat population of 180 IgA nephropathy patients with high baseline proteinuria (24-hour UPE > 2 g/day).
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