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Angion Biomedica Falls 11% After ANG-3777's Mid-Stage Trial For ARDS Fails

Angion Biomedica Corp. (ANGN) Tuesday evening said that its mid-stage trial of lead candidate ANG-3777 in patients with Covid-19 vaccine related pneumonia at high risk for acute respiratory distress syndrome (ARDS) did not meet the primary or secondary efficacy endpoints.

Angion Biomedica is a late-stage biopharmaceutical company developing novel small molecule therapeutics to address acute organ injuries and fibrotic diseases.

"The ALI-201 study sought to address a patient population severely ill with COVID-19, a multi-system inflammatory condition, which differs markedly from our prior and ongoing clinical trials of ANG-3777 related to transplantation and cardiovascular surgery where the acute kidney injury is a discrete event," stated Dr. John Neylan, Angion's Chief Medical Officer.

"Patients in the ALI-201 trial had ongoing and accumulating injury from symptomatic COVID-19 on average 11 days before receiving drug with organ systems under continued attack from the SARS-CoV-2 virus. In contrast, patients in our ongoing trials receive ANG-3777 within 1-3 days after the targeted organ injury. COVID-19 is a severe systemic disease presenting significant challenges to both new and previously approved therapeutics."

ANGN closed Tuesday's trading at $14.45, up $0.12 or 0.84%, on the Nasdaq. The stock, however, slipped $1.65 or 11.42%, in the after-hours trading.

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