Omeros drug fails a PhIII kidney trial, stock nearly halved

Omeros said Mon­day that its treat­ment can­di­date for a cer­tain kid­ney dis­ease failed a Phase III study, and in­vestors shaved near­ly half the share price $OMER in re­ac­tion to the news.

The late-stage flop in im­munoglob­u­lin A nephropa­thy, or IgAN, is a blow to Omeros’ pipeline-in-a-prod­uct plans for nar­so­plimab.

Omeros will end the ARTEMIS-IGAN study, giv­en it missed the mark in the IgA nephropa­thy tri­al, which failed to reach sta­tis­ti­cal sig­nif­i­cance on re­duc­ing more el­e­vat­ed pro­tein in urine than place­bo.

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