Aridis falls after lung infection drug fails to meet efficacy goal

Aridis Pharmaceuticals

26/01/2023 11:52

** Shares of anti-infective drug developer Aridis
Pharmaceuticals Inc  ARDS.O  down 35% at $0.79 premarket, top
pct loser across U.S. exchanges
    ** Company's investigational antibody drug to treat
ventilator associated pneumonia, a lung infection that develops
in a person who is on ventilator, fails to meet main efficacy
goal in a late-stage study
    ** But main measures of safety and tolerability achieved,
with no drug-related serious adverse events - ARDS
    ** COVID-19 pandemic and subsequent conflict in Eastern
Europe limited patient enrollment in study - company
    ** Aridis plans to initiate a second late-stage study to
confirm drug's efficacy and safety, after discussing the current
study results with regulatory authorities
    ** Stock has declined 40% in the last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com))