Merck partner NGM Bio takes stock beating after PhII failure in late-stage eye disease
NGM Bio just found itself on the bad end of a clinical trial readout, and investors are responding harshly.
The San Francisco biotech and long-standing Merck partner reported that a sham-controlled Phase II trial investigating a monoclonal antibody for geographic atrophy, a late stage version of dry age-related macular degeneration, did not meet the primary endpoint.
Over 52 weeks, the biotech injected its candidate, NGM621, into the back of the eye once every four weeks in 108 patients and once every eight weeks in 104 patients — adding four weeks in the end for additional monitoring. While the injections showed a reduction in the rate of change in GA lesion size by 6.3% and 6.5% compared to the 106 patients on placebo, neither arm reached statistical significance.
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