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CinCor Pharma Stock Plunges After Hypertension Drug Misses Primary Goal In Mid-Stage Study

Shares of CinCor Pharma, Inc. (CINC) nearly halved on Monday morning after hypertension drug misses primary endpoint in mid-stage study.

CINC is currently trading at $14.11, down $12.42 or 46.81%, on the Nasdaq. The stock opened its trading at $14.00 after closing Friday's trading at $26.53. The stock has traded between $13.00 and $43.15 in the past 52-week period.

CinCor Pharma Monday announced that its Phase 2 HALO trial evaluating Baxdrostat in patients with uncontrolled hypertension failed to achieve statistical significance on its primary endpoint.

Baxdrostat is a once-daily, selective aldosterone synthase inhibitor. The safety profile and tolerability of Baxdrostat was consistent with previously reported Phase 2 BrigHtn data in resistant hypertension.

The HALO trial was designed to assess the safety and efficacy of Baxdrostat in subjects taking up to two antihypertensive agents at their maximally tolerated dosages.

The company said it plans to meet with the FDA in January 2023 at an end-of-Phase 2 meeting to discuss Phase 3 program plans.

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