Bellerophon stock in free-fall after hypertension drug fails

Bellerophon Therapeutics Inc (NASDAQ:BLPH) shares plummeted Tuesday after a review panel said tests for its pulmonary arterial hypertension drug should not be continued.

The Data Monitoring Committee (DMC) said while there were no safety concerns in the Phase 3 study of 75 subjects in taking INOpulse, the results were “insufficient to support the continuation of the study.”

Shares of Bellerophon tumbled 71.1% to US$0.65, having sunk to a session low of US$0.47. Shares closed at US$2.25 Monday. Volume traded by late Tuesday stood at 10.4mln shares, sharply up from the average daily volume of 352,846 shares.

Pulmonary arterial hypertension is a condition of high blood pressure in the lungs. They occur when the small arteries throughout the lungs narrow, increasing the resistance to blood flow through the lungs. The higher blood pressure can damage the heart.

Bellerophon is based in Warren, New Jersey. The biotherapeutics company is focused on developing therapies that can treat cardiopulmonary diseases.

Story by ProactiveInvestors