Bellerophon's stock tanks as in­haled drug-de­vice fails to re­deem it­self in new PhI­II af­ter pre­vi­ous flops

In the five years since Bellerophon Ther­a­peu­tics’ on­ly pro­gram, a de­vice for ad­min­is­ter­ing in­haled ni­tric ox­ide called IN­Opulse, flunked its first Phase III study, the New Jer­sey biotech has kept at it, start­ing mul­ti­ple new tri­als in dif­fer­ent in­di­ca­tions.

But now the pro­gram has failed an­oth­er Phase III study — de­fin­i­tive­ly.

IN­Opulse, the com­pa­ny re­port­ed, did not meet the pri­ma­ry end­point in a tri­al with 145 pa­tients with fi­brot­ic in­ter­sti­tial lung dis­ease. Go­ing to the sec­ondary end­points, Bellerophon found “min­i­mal dif­fer­ence” be­tween the treat­ment and place­bo group, “with none ap­proach­ing sta­tis­ti­cal sig­nif­i­cance.”

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