FibroGen (NASDAQ: FGEN) slid in pre-market trading on Wednesday after the biopharmaceutical company announced disappointing results of the Phase 3 LELANTOS-2 trial of pamrevlumab for the treatment of ambulatory patients with Duchenne muscular dystrophy (DMD). DMD is a debilitating neuromuscular disease. The company stated that the randomized, double-blind global trial did not meet the primary endpoint of change in the North Star Ambulatory Assessment (NSAA) total score from baseline to week 52.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The company added that the secondary endpoints were also not met in the trial. The secondary trial is measured by change from baseline at week 52 in 4-stair climb velocity, a 10-meter walk or run test, time taken to stand, time to loss of ambulation, and proportion of patients with greater than 10 seconds in the 10-meter walk or run test.
FibroGen added that it is “in the process of evaluating the totality of the data, including other pre-specified endpoints, to determine the next steps for the program.”
Analysts remain bearish about FGEN stock with a Moderate Sell consensus rating based on four Holds and two Sells.
