The team at Bellerophon Therapeutics Inc. intends to further analyze data after an unexpectedly disappointing interim look at the phase III INOvation-1 study testing its inhaled nitric oxide delivery system in pulmonary arterial hypertension (PAH) failed to show sufficient improvements in the six-minute walk distance (6WMD), the primary endpoint. That review prompted the data monitoring committee (DMC) to recommend the study be stopped for futility and sent shares of the Warren, N.J.-based company (NASDAQ:BLPH) falling more than 68 percent Tuesday.