Resverlogix plunges as key drug candidate RVX-208 fails in mid-stage trial

Canada’s Resverlogix (TSX:RVX) saw its share go into free fall on June 27, when the company announced that its Phase IIb ASSURE clinical trial evaluating its lead drug candidate RVX-208 in high-risk cardiovascular patients with low high-density lipoprotein (HDL) did not meet its primary endpoint of a -0.6% change in percent atheroma volume as determined by intravascular ultrasound (IVUS).

The firm’s shares plunged 93% to C$0.23 at close of normal trading Toronto, the most since its initial public offering in 2001. The stock has now fallen 86% this year, giving it a market value of C$17.2 million ($16.4 million), noted a Bloomberg report.

The RVX-208 treated group had -0.4% plaque regression (p= 0.08). RVX-208 is Resverlogix' first-in-class orally active BET-protein inhibitor. The patient group receiving active treatment met the secondary endpoints of regression of total (coronary) atheroma volume (TAV) and increases in Apolipoprotein A-I (ApoA-I) and HDL cholesterol. Unexpected strong placebo results will need to be further explored.