Somavaratan setback sends Ascendis into ascendancy
The failure of Versartis’ (Nasdaq: VSAR) VELOCITY Phase III trial of somavaratan in pediatric growth hormone deficiency (GHD) to meet its primary endpoint brought disaster in the stock market for the endocrine-focused biopharma company.
Versartis’ share price slumped by nearly 88% in Friday’s trading, taking its value to just $2.68, with executives at the USA-based firm left shaking their heads in bemusement at the results from the study of the long-acting form of recombinant human growth hormone, which is administered only twice monthly.
Non-inferiority versus Genotropin, US pharma giant Pfizer’s (NYSE: PFE) currently prescribed daily growth hormone for GHD in children, was not demonstrated in the intent to treat population for the primary efficacy variable, height velocity (HV) at 12 months.
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