BridgeBio Plunges After Acoramidis Study Fails to Meet Primary Endpoint -Breaking
Investing.com — A biopharmaceutical firm BridgeBio Pharma Inc (NASDAQ) Monday, investors were told that their Phase 3 Study on acoramidis in rare heart disease symptomatic Transthyretin (TTR-AMYloid Cardiomyopathy) (ATTRCM) didn’t meet its primary endpoint at the month 12.
BridgeBio shares fell by 71% after the news.
BridgeBio stated that the ATTRibuteCM study showed a similar decline to what is expected in older adults. These declines were “substantially lower” than those in untreated arm previously reviewed.
The decrease in placebo compared to the ATTRACT group was more than 70%.
Neil Kumar, founder of the company and its CEO, said that he was disappointed by the results. Together with other people, we are still looking for answers about the 6MWD.
Later, he added that “The drug appears to be doing exactly what we’re asking it.” We will be able to show the benefits of acoramidis therapy if we have enough clinical outcomes events by Month 30.
Paul Matteis, a Stifel analyst, said that the news was good. Alnylam Pharmaceuticals Inc (NASDAQ:), as it implies that “acromadis might be less efficient than Pfizer’s Tafamidis.” Matteis feels it “sets up” Alnylams Onpattro/Vutrisiran’s “best-in-class TTR cardiomyopathy.”
Alnylam shares have fallen around 14% as of this writing.
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