Omeros trial results show little difference between the effect of drug and placebo in kidney disease study

Omeros Corporation (NASDAQ:OMER) shares sank following disappointing results from its mid-stage kidney disease study.

Shares fell more than 42% post-results, but bounced back about 15% to $16 in Tuesday pre-market trading.

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Its Phase 2 clinical trial evaluated the effect of its drug OMS721 on the treatment of IgA Nephropathy, a kidney disease that occurs when an antibody called immunoglobulin A, or IgA, gets stuck in the kidneys and affects their ability to filter wastes from the blood.

The trial looked at the reductions in proteinuria, or the protein level in a patient’s urine, to determine the degree of the loss of kidney function.

Unfortunately, the 12-week study found that the level of proteinuria fell around 18% in both the patients treated with OMS721 and those given the placebo.

Of the 12 patients participating, the biotech said only nine were evaluable. Three participants experienced complications that excluded them from the results.

The Seattle-based commercial-stage biopharmaceutical develops small-molecule and protein therapeutics to treat inflammation and central nervous system disorders.

Story by ProactiveInvestors