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Placebo Effect or Just Bad News? Omeros Down On OMS721 IgA Nephropathy Data

 
• By Sten Stovall

Investors and analysts hope Omeros Corp can explain – and soon - why its candidate drug for treating renal diseases performed only slightly better than placebo in tests on IgA nephropathy patients with high risk of progression, sending the biotech's shares sliding.

Kidney
Omeros Jarred Investors With Mixed Results In Its Phase II IgAN Study • Source: Shutterstock

A press release issued Oct. 1 by Omeros Corp. heralding 'positive' clinical trial results for its OMS721 drug in IgA nephropathy triggered a 44% drop in the company's share price when investors reached the fourth paragraph to learn it had fared only marginally better than placebo at 12 weeks.

The announcement from the Seattle-based biotech of additional Phase II results testing OMS721 in patients with IgA nephropathy (IgAN) was...

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