PhaseBio: Falls after discontinuing COVID-19 drug trial

PhaseBio Pharmaceuticals

23/10/2020 13:31

** Shares of drug developer  PHAS.O  down ~5% at $3.25
premarket
    ** Co discontinues trial testing drug for hospitalized
COVID-19 patients who are at high risk of acute respiratory
distress syndrome  urn:newsml:reuters.com:*:nBw1wlw51a
    ** U.S. FDA asked for additional clinical trials with
sufficient sample size to adequately assess mortality risk,
which co sees unlikely to happen
    ** PHAS had started mid-stage trial of drug, Pemziviptadil,
in July  urn:newsml:reuters.com:*:nL3N2EO2WL
    ** Stock down 44% YTD

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))