Upstream Bio, Inc. (UPB) on Wednesday said the Phase 2 VALIANT study of verekitug in adults with severe asthma, met its primary endpoint. However, the stock fell more than 30% in pre-market trading.
The company said verekitug achieved statistically significant and clinically meaningful reductions in the annualized asthma exacerbation rate. The drug reduced exacerbations by 56% with 100 mg dosing every 12 weeks and by 39% with 400 mg dosing every 24 weeks, compared with placebo.
Verekitug also showed meaningful improvements in lung function and reductions in airway inflammation, while demonstrating a safety profile consistent with prior studies.
Upstream Bio said it plans to advance verekitug into Phase 3 trials in severe asthma and chronic rhinosinusitis with nasal polyps following regulatory discussions.
Upstream Bio stock closed at $27.81 on Tuesday, up 6.47%.
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