Angion’s lead product candidate, ANG-3777, is a hepatocyte growth factor mimetic. In October 2021, Angion and its partner Vifor Pharma announced the Phase III trial of ANG-3777 did not demonstrate a statistically significant difference from placebo on the primary endpoint in the population of deceased donor kidney transplant patients who were at risk for developing delayed graft function.

Results from the trial immediately led to a 55% drop in Angion's share price. The company will look at the data in its totality alongside results from another trial as it considers its next steps.