Shares of biopharmaceutical company Omeros Corp. (NASDAQ:OMER) are tanking today after data from its I-SPY COVID-19 trial arm for narsoplimab failed to impress investors.
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The drug indicated lower mortality risk on its addition to the treatment of critically ill COVID-19 patients. All the patients received standard of care which included dexamethasone and remdesivir.
The drug though was not seen to shorten the time to recovery for patients. The data monitoring committee terminated the arm that included narsoplimab before reaching 125 patients and importantly, “Neither the trial’s futility nor graduation criteria had been met in the analysis of the population at the time of termination of the arm.”
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