Pulmaquin failure halves Aradigm's value
The share price of USA-based Aradigm (Nasdaq: ARDM) collapsed on Thursday after the company announced top-line results from its two Phase III trials of Pulmaquin (ciprofloxacin).
Pulmaquin is Aradigm’s investigational proprietary formulation of once-daily ciprofloxacin for inhalation, in patients with non-cystic fibrosis bronchiectasis (non-CF BE) with chronic lung infections with Pseudomonas aeruginosa (P aeruginosa).
In 2013, Aradigm granted an exclusive, worldwide license for the company's inhaled liposomal ciprofloxacin product candidates for the indication of non-CF BE and other indications to Grifols (GRF: MC), and the Spanish drugmaker's share price had also dropped by nearly 4% by Friday afternoon compared to its closing price on Wednesday, following the announcement of the trial results.
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