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Aerovate Tanks On Trial Catastrophe

 
• By Elizabeth Cairns

A disastrous Phase II miss for the pulmonary arterial hypertension candidate AV-101 leaves Aerovate drifting. Could Gossamer stand to benefit?    

Downward red arrow concept

When even the sellside describes a biotech’s sole product as “an abject failure”, the company is clearly in trouble. Aerovate Therapeutics, Inc’s value was shredded yesterday after it canned its pulmonary arterial hypertension (PAH) candidate AV-101 following a dire clinical trial performance.

Key Takeaways
  • Aerovate’s inhaled imatinib has failed on both primary and secondary endpoints in a Phase IIb PAH trial.
  • AV-101 was Aerovate’s only asset, and the company’s future is unclear after a 93% cut in its value

Aerovate had claimed that AV-101, an inhaled powder formulation of imatinib, could be a potentially disease-modifying therapy by reducing the proliferation of vascular cells that underlies PAH

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