Eleven Biotherapeutic's isunakinra fails Phase III trial

18 January 2016

A drug aimed at treating allergic conjunctivitis has failed at the Phase III trial stage, sparking a 36% fall in the share price of manufacturer Eleven Biotherapeutics, (Nasdaq: EBIO).

The USA-based clinical-stage biopharmaceutical company announced its isunakinra, or EBI-005, treatment had performed no better than placebos is in its latest tests.

Eleven said 258 patients took part in the Phase III study with half being given isunakinra and half a placebo but there were no statistically-significant differences between the two groups when it came to the relief of the eye condition.

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