Drug Discovery & Development - April 01, 2011
SEATTLE (AP) - Omeros Corp. said that its experimental knee drug did not meet goals of a late-stage clinical trial.
Omeros said it couldn't draw any conclusions about the drug's effectiveness in the study because of "confounding factors," or variables that made it impossible to tell if its drug was responsible for changes in the condition of patients. The company didn't elaborate on the nature of those factors.
Omeros was testing OMS103HP in patients undergoing arthroscopic surgery to reconstruct an anterior cruciate ligament. The anterior cruciate ligament is a major ligament in the knee, and Omeros' drug is intended to improve joint motion and function and reduce pain after surgery.
"Given the strength of the data from previous clinical studies of OMS103HP, we are obviously disappointed and surprised by the outcome," said Gregory A. Demopulos, M.D., Omeros Chairman and CEO. "As we learn more from our data analysis, we will provide additional information on our plans for OMS103HP."
Shares of Omeros plunged $3, or 37.5 percent, to $5 in aftermarket trading. The stock had the regular session up 20 cents at $8.
The company said the results don't show the drug is ineffective and do not undermine another late-stage study of OMS103HP in patients who are having surgery on the meniscus, a cartilage pad inside the knee.
Omeros said it couldn't draw any conclusions about the drug's effectiveness in the study because of "confounding factors," or variables that made it impossible to tell if its drug was responsible for changes in the condition of patients. The company didn't elaborate on the nature of those factors.
Omeros was testing OMS103HP in patients undergoing arthroscopic surgery to reconstruct an anterior cruciate ligament. The anterior cruciate ligament is a major ligament in the knee, and Omeros' drug is intended to improve joint motion and function and reduce pain after surgery.
"Given the strength of the data from previous clinical studies of OMS103HP, we are obviously disappointed and surprised by the outcome," said Gregory A. Demopulos, M.D., Omeros Chairman and CEO. "As we learn more from our data analysis, we will provide additional information on our plans for OMS103HP."
Shares of Omeros plunged $3, or 37.5 percent, to $5 in aftermarket trading. The stock had the regular session up 20 cents at $8.
The company said the results don't show the drug is ineffective and do not undermine another late-stage study of OMS103HP in patients who are having surgery on the meniscus, a cartilage pad inside the knee.
No hay comentarios:
Publicar un comentario