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Angion Biomedica Pulls The Plug On Another Kidney Disease Trial - Read Why

Stock Markets Jun 30, 2022 11:40
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© Reuters. Angion Biomedica Pulls The Plug On Another Kidney Disease Trial - Read Why

  • Angion Biomedica Corp (NASDAQ: ANGN) has discontinued the JUNIPER Phase 2 trial of ANG-3070, an oral tyrosine kinase inhibitor, in primary proteinuric kidney diseases, specifically focal segmental glomerulosclerosis and immunoglobulin A nephropathy.
  • The trial began enrolling patients in December 2021.
  • A reassessment was conducted following a potential safety signal of an unexpected and substantial decline in kidney function in a patient in the trial's drug treatment arm.
  • Related: Angion Biomedica Is 'Better Positioned' Than Peers Despite Trial Failure, HC Wainwright Thinks So
  • "Based on our ongoing analysis of the risk/benefit profile of ANG-3070 in patients with primary proteinuric kidney disease, we believe it to be in the best interest of patients to discontinue our Phase 2 JUNIPER study at this time..," stated CEO Jay Venkatesan.
  • Angion expects to report more than $60 million in cash and cash equivalents at the end of Q2.
  • In April, the company decided to discontinue the development of ANG-3777 after disappointing data.
  • Price Action: ANGN shares closed 18.7% lower at $1.39 during after-hours trading on Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Angion Biomedica Pulls The Plug On Another Kidney Disease Trial - Read Why
 

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