HanAll Biopharma reports mixed Phase III results for tanfanercept

South Korea’s HanAll Biopharma (KRX: 009420) dipped more than 3% to 21,850 won yesterday, after it announced mixed results from the Phase III VELOS-3 trial evaluating the safety and efficacy of tanfanercept, a novel, topical anti-inflammatory treatment being studied for the treatment of dry eye disease (DED) in subjects diagnosed with moderate to severe DED.

The Phase III VELOS-3 trial did not demonstrate statistical-significance for either of the two primary efficacy endpoints: improvement from baseline in central corneal staining score (CCSS) and in improvement from baseline in Eye Dryness Score via Visual Analogue Scale (VAS) assessed at week 8 in subjects with dry eye disease (DED), relative to vehicle.

Positive spin