Shares of Paris-based Abivax SA (Paris:ABVX) fell 25.4% to €21 (US$25.07) on March 8 after the company said it would halt a phase IIb/III trial of its lead candidate, ABX-464, in high-risk COVID-19 patients for lack of efficacy. The decision was based on a data safety monitoring board analysis that Abivax said revealed a "lower than expected rate (10.1%) of progression to severe disease or death with no difference between ABX-464 and placebo groups," each of which also received standard-of-care therapy.
Days after taking the unusual step, for a Chinese company, of terminating a couple of clinical programs, Bio-Thera Solutions Ltd. said it still plans to continue R&D in antibody-drug conjugates, but with a new technology platform, the company told BioWorld.
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