Xenon and Teva's arthritic knee pain drug fails in Phase IIb trial
TV-45070, a drug for arthritic knee pain developed by Xenon Pharmaceuticals (Nasdaq: XENE) and Teva Pharmaceutical Industries (NYSE: TEVA) failed to meet the primary endpoints of its Phase IIb trial.
Xenon stock plunged to a new low of $9.53 on the stock market following the announcement, while Teva’s stock was up nearly 3%, possibly aided by the launch of its generic of Boehringer Ingelheim’s Aggrenox (aspirin and dipyridamole).
While TV-45070 was safe and tolerable, it did not outperform placebo in terms of pain reduction, the primary endpoint. Results from this trial showed that TV-45070, 4% and 8% formulations, did not demonstrate statistically significant difference from placebo in efficacy endpoints of reductions in pain due to osteoarthritis.
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