Tenax, Sionna Shares Sink After Trial Failures

Dow Jones08-10 22:52

Shares of Tenax Therapeutics and Sionna Therapeutics tumbled Monday after the biotechs revealed separate late-stage trial failures.

Tenax stock fell nearly 90% after a Phase 3 trial of its experimental heart-failure pill failed to help patients walk farther than those on a placebo. The trial measured how far patients could walk in six minutes-a standard test for heart failure treatments. A second trial goal measuring patient-reported symptoms also came up short.

Meanwhile, shares of Sionna dropped 92% after a trial of its experimental cystic fibrosis drug missed its main goal. The drug, added to a treatment developed by Vertex Pharmaceuticals, was meant to help patients' lungs clear mucus more effectively, measured by a drop in sweat chloride levels. The company said it wouldn't continue development of the drug as an add-on treatment.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment