Agennix Falls as Drug Study Halted After Deaths: Frankfurt Mover
Agennix AG (AGX) fell the most in more than two years in Frankfurt trading after a study of its experimental sepsis drug was halted because more patients receiving the treatment died than those who got a placebo.
Agennix declined 30 percent to 1.88 euros at the close of trading, giving the company a market value of 96.4 million euros ($126.8 million). The decline was the biggest for the company since it began trading in November 2009.
A safety-monitoring board recommended halting enrollment and treatment in the clinical trial of talactoferrin, Martinsried, Germany-based Agennix said in a statement today. Mortality in the talactoferrin arm of the OASIS trial was greater than in the placebo arm, the company said.
“Agennix is unblinding the data from the trial to better understand these results,” the company said. “A review will be initiated immediately, and, once completed, the company will determine its next steps regarding the development of talactoferrin in severe sepsis and provide additional information regarding the results of the study.”
The results should have no affect on the Fortis-M trial of talactoferrin in non-small cell lung cancer, Agennix said.
To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net
To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net
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