Upstream Bio (NASDAQ:
UPB) stock fell 23% to 47% following mixed Phase 2 VALIANT trial results for verekitug in severe asthma.123
The 100mg q12w dose reduced annualized asthma exacerbation rate (AAER) by 56%, while the 400mg q24w dose reduced it by 39%; both statistically significant but only q12w comparable to Tezspire.123
Trial showed lung function improvements:
122 mL FEV1 at 100mg q12w and 139 mL at 400mg q24w; verekitug well-tolerated.1
Over 90% of eligible patients enrolled in long-term extension study; company plans Phase 3 trials in severe asthma and CRSwNP after regulatory talks.12
Analysts noted mixed data met base case but fell short of best-case for less frequent dosing, leading to selloff despite positive top-line readout.3
Sources:
1. https://www.investing.com/news/stock-market-news/upstream-bio-stock-tumbles-after-mixed-phase-2-asthma-trial-results-93CH-4499950
2. https://www.stocktitan.net/news/UPB/upstream-bio-reports-positive-top-line-results-from-the-phase-2-0qy3qy3g5f6o.html
3. https://www.fiercebiotech.com/biotech/upstream-posts-tezspire-asthma-efficacy-phase-2-falls-short-best-case-scenario