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RedHill Biopharma’s bowel syndrome drug data fails to impress investors

Written by: | no-reply@reuters.com | Dated: Tuesday, October 3rd, 2017

 

(Reuters) – RedHill Biopharma Ltd said on Tuesday its drug to treat diarrhea-predominant irritable bowel syndrome met the main goal in a mid-stage study, but the positive data failed to impress investors, sending its U.S.-listed shares lower.

The company said the drug, Bekinda, improved stool consistency in patients when compared with a placebo. The drug, however, did not show statistical significance in improving abdominal pain and overall response in patients – secondary goals in the study.

U.S.-listed shares of the Tel Aviv-based company are down about 11.2 percent at $9.60 in late morning trade.

“The study was not designed or meant to show significance in the secondary endpoints … the results are actually good according to the small sample size,” RedHill’s Chief Executive Dror Ben-Asher told Reuters.

The trial was testing a 12-mg dose – a once-daily oral pill formulation of a 5-HT3 receptor antagonist called ondansetron – in 126 patients over 18 years of age.

Receptor antagonists such as 5-HT3 are a class of drugs known to slow intestinal movement in patients.

The U.S Food and Drug Administration has already approved a different kind of 5-HT3 antagonist called Lotronex in the United States to treat women with IBS-D.

Other drugs to treat IBS-D in both men and women include Valeant Pharmaceuticals International Inc’s Xifaxan and Allergan Plc’s Viberzi.

RedHill told Reuters it expects to start a late-stage trial on Bekinda by late 2018.

Irritable bowel syndrome is a chronic condition that affects up to 30 million people in the United States, out of which over 50 percent cases belong to IBS-D, the company said.

The disease has two other forms: constipation (IBS-C) and mixed (IBS-M).

RedHill is also testing Bekinda to treat acute gastroenteritis and gastritis, an inflammation of the stomach and intestines that causes vomiting and diarrhea.

In June, RedHill reported positive results from a late-stage trial testing the drug in patients with gastroenteritis.

 

Reporting by Divya Grover and Akankshita Mukhopadhyay in Bengaluru; Editing by Bernard Orr

 

Reuters source:

http://www.reuters.com/article/us-redhill-boweldrug/redhill-biopharmas-bowel-syndrome-drug-data-fails-to-impress-investors-idUSKCN1C815L

 

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