NGM’s Second Phase II Miss Raises Questions For Option Deal With Merck

17 Oct 2022

NGM said a Merck-partnered C3 inhibiting antibody has failed a Phase II study in geographic atrophy, after the biotech’s wholly owned NASH candidate missed in a Phase IIb study in 2021.

Crash & Burn — NGM's stock price declined by 70% after the CATALINA data were unveiled • Source: Shutterstock

NGM Biopharmaceuticals, Inc. revealed a major clinical trial setback under its 2015 R&D partnership with Merck & Co., Inc. on 17 October, reporting that geographic atrophy candidate NGM621 missed its primary endpoint in the 320-patient Phase II CATALINA study. In the hours following the top-line data release, the South San Francisco biotech’s share price declined by more than two-thirds.

The setback in geographic atrophy follows last year’s Phase IIb failure of NGM’s wholly owned non-alcoholic steatohepatitis (NASH) candidate aldafermin (NGM313). (Also see "NGM Phase IIb NASH Failure Could...

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