Omeros terminates kidney disease trial as therapy fails in late-stage study


Omeros terminates kidney disease trial as therapy fails in late-stage study

Oct 16 (Reuters) – Omeros Corp (OMER.O) said on Monday it will discontinue a trial studying its experimental therapy to treat a type of kidney disease after it failed to meet the main goal of the late-stage study.

Shares of Omeros fell 47% to $1.20 in premarket trading after an interim analysis showed the drug failed to demonstrate a statistically significant improvement in reducing elevated levels of protein in urine compared to placebo.

The company was studying narsoplimab for the treatment of immunoglobulin A nephropathy (IgAN), also called Berger’s disease, in which germ-fighting proteins build up in the kidneys, damaging tissues and resulting in blood and protein leaking into urine.

Based on the results of the trial, Omeros said it will not submit a marketing application to the U.S. health regulator seeking approval of the therapy.

Omeros plans to use the funds earmarked for the commercialization of the therapy in IgAN and continuation of the trial, for other programs, including an ongoing mid-stage trial and upcoming late-stage programs for its experimental blood disease therapy OMS906.

The company is also studying narsoplimab in a late-stage trial for the treatment of thrombotic microangiopathy, a complication seen in patients undergoing bone marrow transplant, and for COVID-19 in a mid-stage trial.

Reporting by Sriparna Roy in Bengaluru; Editing by Shinjini Ganguli

Source: Reuters