Drug Development

Mast’s sickle cell drug flunks PhIII, eclipsing shares

Turn out the lights, the party is over at Mast Therapeutics. The San Diego-based biotech, a penny stock microcap, announced after the market closed on Tuesday that its Phase III study of an experimental drug for sickle cell disease flopped, unable to differentiate itself from a sugar pill.

Mast CEO Brian M. Culley

Mast CEO Brian M. Culley

Mast’s already battered shares $MSTX dropped 76%, to 13 cents a share, on the news.

There’s some analysis of the data left to do on vepoloxamer, but the company say’s it is ready to wash its hands of the drug. Then it can examine its remaining options.

“(B)ased on the data we’ve seen to date, we expect we will terminate all clinical development of vepoloxamer,” said CEO Brian M. Culley. “Consequently, while we evaluate our options, we intend to significantly and immediately reduce our operating expenses and continue our efforts with AIR001, our lead asset in heart failure with preserved ejection fraction, which currently is the subject of a 100-patient phase 2 study expected to complete enrollment by the end of 2017.”

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 29,000+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Endpoints News Webinar

Head of DMPK, Director
Magenta Therapeutics Cambridge, MA
Research Scientist - Disease Biology & Cellular Pharmacology
Recursion Pharmaceuticals Salt Lake City
Sr/Medical Director, Medical Affairs
A Rare Disease Biotech New Brunswick, NJ
VP, Pharmacovigilance
Aeglea BioTherapeutics Austin, TX
Process Scientist/Lead
Tmunity Therapeutics Philadelphia, PA

Visit Endpoints Careers ->