By Will Feuer
Shares of Omeros were cut nearly in half after the company said it is discontinuing its late-stage clinical trial evaluating its narsoplimab drug for the treatment of immunoglobulin A nephropathy.
The stock fell 48% to $1.18 in morning trading. Shares are down by roughly the same amount so far this year.
The clinical-stage biopharmaceutical company said interim data from the trial failed to meet its primary endpoint and achieve a statistically significant improvement over placebo.
“We will conduct more detailed analyses of the data to understand better the outsized placebo effect and the overall trial results and to try to identify useful biomarkers,” said Omeros Chief Executive Gregory Demopulos.
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