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See Why Molecular Partners Shares Dropped To 52-Week Low During Tuesday Premarket?

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·1 min read
In this article:
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  • Molecular Partners AG (NASDAQ: MOLN) has announced that a planned futility analysis of ensovibep in the Phase 3 ACTIV-3 study has not met the thresholds required to continue enrollment of hospitalized adults with COVID-19.

  • The independent Data and Safety Monitoring Board (DSMB) recommends discontinuing recruitment in the ensovibep arm of the ACTIV-3 study conducted by the National Institutes of Health (NIH).

  • ACTIV is evaluating multiple therapies for COVID-19.

  • At the time of the analysis, 470 patients had been randomized in the ensovibep arm of the study.

  • Ensovibep was observed to be generally safe and well-tolerated with reported side effects consistent with the standard of care.

  • Molecular Partners and Novartis AG (NYSE: NVS) are collaborating on developing ensovibep to assess ensovibep's ability to rapidly reduce viral load and prevent worsening symptoms of hospitalized COVID-19 patients.

  • Novartis is conducting an EMPATHY Phase 2/3 trial with Molecular Partners as a sponsor, with topline interim data for the first 400 patients expected in early 2022.

  • Related content: Benzinga's Full FDA Calendar.

  • Price Action: MOLN shares are down 36.3% at $9.42 during the premarket session on the last check Tuesday.

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