Blam­ing Covid-19 for ini­tial da­ta is­sues, an­tivi­ral biotech re­ports PhI­Ib fi­bromyal­gia fail — shares tank

Close to two years af­ter mak­ing the jump to Nas­daq and rais­ing $30 mil­lion via IPO, Virios Ther­a­peu­tics has failed on a mid-stage study and is fac­ing in­vestor back­lash.

The At­lanta-based biotech put out word ear­ly Mon­day that the biotech’s Phase IIb study, test­ing a po­ten­tial treat­ment for fi­bromyal­gia in more than 400 pa­tients, failed to reach sta­tis­ti­cal sig­nif­i­cance in the study’s pri­ma­ry ef­fi­ca­cy end­point. The end­point, said Virios, was the change from base­line in the week­ly av­er­age of dai­ly, self-re­port­ed, av­er­age pain sever­i­ty scores — com­par­ing the can­di­date to place­bo. That p-val­ue didn’t reach that sig­nif­i­cance thresh­old, re­port­ed at p=0.302.

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