Verekitug Trial Results Spark Sudden and Unexplained Stock Drop
Upstream Bio Inc.'s stock plummeted over 40% on Wednesday despite the company announcing positive top-line results from its Phase 2 VALIANT trial evaluating Verekitug in adults with severe asthma. The company's CEO, Rand Sutherland, MD, stated that they intend to rapidly advance verekitug into Phase 3 trials in severe asthma and CRSwNP.
The study involved 478 patients and showed that verekitug reduced annual asthma attacks by 56% with a 100 mg dose and 39% with a 400 mg dose compared to placebo. Patients also experienced improved lung function, and the treatment was generally well tolerated.
The results of this trial are comparable to those seen in Amgen's (AMGN) Tezspire, which requires a 210 milligram dose every four weeks. Upstream Bio has begun planning Phase 3 studies and has already enrolled over 60% of patients in the ongoing Phase 2 VENTURE trial for patients with COPD.