Faron Pharma in freefall after traumakine trial failure

Shares in the London-listed Faron Pharmaceuticals (AIM: FARN) have crashed almost 90% as the Finnish firm announced the Phase III INTEREST trial of traumakine failed to meets its primary efficacy endpoint.

The study is evaluating the candidate as a treatment for acute respiratory distress syndrome (ARDS), a severe orphan disease with a high mortality rate, for which there is currently no approved pharmacological treatment.

Treatment with traumakine did not result in an increased number of ventilator free survival days or a reduced mortality rate when compared to placebo.