ArriVent falls after lung cancer drug misses late-stage trial goal
BUZZ-ArriVent falls after lung cancer drug misses late-stage trial goal ** Shares of drug developer ArriVent BioPharma AVBP.O fall 62.7% to $10.62 premarket
** Co says its experimental drug firmonertinib failed to significantly delay disease worsening or death in a late-stage trial of 398 previously untreated patients with a type of advanced lung cancer linked to a rare genetic mutation
** At the higher dose, patients went a median 11 months without their cancer worsening versus 9.5 months on chemotherapy, while tumours shrank in 60% of patients compared with 33% on chemotherapy
** Severe side effects occurred in 52% of patients on the higher dose versus 55% on chemotherapy; no new safety concerns were reported
** ArriVent is reviewing the full results before deciding the drug's next development steps
** As of last close, AVBP up 41.5% YTD
(Reporting by Kunal Das in Bengaluru)
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ArriVent falls after lung cancer drug misses late-stage trial goal