financetom
Business
financetom
/
Business
/
Roivant to stop lung disease drug development after trial failure
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Roivant to stop lung disease drug development after trial failure
Dec 3, 2024 5:55 AM

Dec 3 (Reuters) - Roivant will discontinue the

development of its drug for a rare lung disease after it failed

to show treatment benefits in patients in a mid-stage trial.

The company's unit, Kinevant Sciences, said on Tuesday its

once-monthly injectable drug, namilumab, failed to meet the main

and secondary goals in the study evaluating it in 107 patients

with chronic active pulmonary sarcoidosis for about 6 months.

The disease causes lumps of inflammatory cells to form in

the lungs and other organs, leading to tissue damage and organ

dysfunction.

Current treatments for the disease are corticosteroids and

other immunosuppressants that only suppress the symptoms, which

include shortness of breath, chest pain and persistent dry

cough.

"Unfortunately science is sometimes humbling, and we are

proud to have made the attempt," Roivant CEO Matt Gline said in

a statement.

Shares of Roivant fell 2.3% in premarket trading.

Sarcoidosis affects 150,000 to 200,000 people in the United

States per year, according to the American Lung Association.

Drug developer aTyr Pharma's ( ATYR ) efzofitimod is also

being tested for the treatment of pulmonary sarcoidosis and is

in late-stage development.

(Reporting by Christy Santhosh in Bengaluru; Editing by

Shinjini Ganguli)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Simply Good Foods Lifts Full-Year Adjusted EBITDA Target After Mixed Fiscal Third Quarter
Simply Good Foods Lifts Full-Year Adjusted EBITDA Target After Mixed Fiscal Third Quarter
Jun 27, 2024
11:52 AM EDT, 06/27/2024 (MT Newswires) -- Simply Good Foods' ( SMPL ) fiscal third-quarter revenue rose less than expected while earnings outperformed analysts' estimates as the company lifted its full-year outlook for core profitability. Revenue rose to $334.8 million for the three months ended May 25 from $324.8 million a year ago but missed the $337.9 million average analyst...
--Kroger Lifts Quarterly Dividend by 10% to $0.32 a Share, Payable Sept. 1 to Shareholders of Record Aug. 15
--Kroger Lifts Quarterly Dividend by 10% to $0.32 a Share, Payable Sept. 1 to Shareholders of Record Aug. 15
Jun 27, 2024
11:51 AM EDT, 06/27/2024 (MT Newswires) -- Price: 49.35, Change: -0.03, Percent Change: -0.06 ...
Update: Rock Tech Gains 7.7% as It Looks to Receive Up to 100-Million Euros in Grants for German Lithium Refinery
Update: Rock Tech Gains 7.7% as It Looks to Receive Up to 100-Million Euros in Grants for German Lithium Refinery
Jun 27, 2024
11:56 AM EDT, 06/27/2024 (MT Newswires) -- Rock Tech Lithium ( RCKTF ) on Thursday said it expects to receive up to 100-million euros in direct grants for its Guben lithium refinery project in Germany. The company said it received a binding letter of intent signed by the minister for economic affairs in Brandenburg, Joerg Steinbach, for up to 90-million...
Update: PyroGenesis Canada Loses 4.3% as Receives $4.1 Million as Part of Drosrite Contract
Update: PyroGenesis Canada Loses 4.3% as Receives $4.1 Million as Part of Drosrite Contract
Jun 27, 2024
11:51 AM EDT, 06/27/2024 (MT Newswires) -- PyroGenesis Canada ( PYRGF ) on Wednesday said it received a $4.1 million payment as part of a contract with Drosrite International, with additional payments to follow. As part of the contract, PyroGenesis manufactured and delivered three Drosrite aluminum-dross recovery systems that have been in full commercial operation since April 2022 for the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved