Angion Biomedica Pulls The Plug On Another Kidney Disease Trial - Read Why

• Angion Biomedica Corp (NASDAQ: ANGN) has discontinued the JUNIPER Phase 2 trial of ANG-3070, an oral tyrosine kinase inhibitor, in primary proteinuric kidney diseases, specifically focal segmental glomerulosclerosis and immunoglobulin A nephropathy.

• The trial began enrolling patients in December 2021.

• A reassessment was conducted following a potential safety signal of an unexpected and substantial decline in kidney function in a patient in the trial's drug treatment arm.

• Related: Angion Biomedica Is 'Better Positioned' Than Peers Despite Trial Failure, HC Wainwright Thinks So

• "Based on our ongoing analysis of the risk/benefit profile of ANG-3070 in patients with primary proteinuric kidney disease, we believe it to be in the best interest of patients to discontinue our Phase 2 JUNIPER study at this time..," stated CEO Jay Venkatesan.

• Angion expects to report more than $60 million in cash and cash equivalents at the end of Q2.

• In April, the company decided to discontinue the development of ANG-3777 after disappointing data.

• Price Action: ANGN shares closed 18.7% lower at $1.39 during after-hours trading on Wednesday.

See more from Benzinga

• This Analyst Believes Seagen Is Evaluating Strategic Alternatives

• Analysts Still Believe Verrica's Ycanth Is Approvable Despite FDA Response Letter

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.