Shares in Vifor and Angion Biomedica hit by trial failure

Vifor Pharma (VTX: FIFoN) was trading 5% lower at the end of trading on Wednesday, while its partner Angion Biomedica (Nasdaq: ANGN) lost more than 50% of its market value in the first half of the day’s trading in New York.

Earlier, the company had announced that the Phase III trial of Angion’s ANG-3777 did not demonstrate a statistically-significant difference from placebo on the primary endpoint in the population of deceased donor kidney transplant patients who were at risk for developing delayed graft function (DGF).

"The totality of the DGF data, together with the CSA-AKI data expected later this year, will inform our clinical strategy with respect to ANG-3777"ANG-3777 showed a modest but not statistically-significant difference in estimated glomerular filtration rate (eGFR) of 53.3mL/min/1.73m2 versus 50.4mL/min/1.73m2 for placebo.