Revelation Biosciences slumps after therapy to prevent influenza fails in study

Revelation Biosciences

30/03/2022 17:47

** Shares of biopharma co  REVB.O  fall ~67% to a record low
of 70 cents 
    ** Co says interim data from mid-stage study of lead
therapeutic candidate, REVTx-99a, shows that it did not meet
main goal  urn:newsml:reuters.com:*:nGNX1sC1N1 
    ** REVB was testing REVTx-99a, an intranasal formulation, as
a preventive treatment for influenza caused by the H3N2 virus 
    ** In study, co says the differences between REVTx-99a and
placebo were not statistically significant
    ** REVB will continue to develop REVTx-99b for management of
allergic rhinitis or hay fever symptoms such as chronic nasal
congestion 
    ** Including session's losses, stock has fallen ~87% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))