NMTR - 9 Meters stock slumps 54% as phase 3 Celiac disease trial of larazotide gets axed

9 Meters Biopharma (NASDAQ:NMTR) stock fell ~54% on June 21 after the company said it will not continue a phase 3 trial of larazotide to treat Celiac disease. The company said that based on consultation with an independent statistician, it decided that the additional number of patients needed to determine a significant clinical outcome between placebo and larazotide is too large to support trial continuation. Larazotide is being evaluated in a phase 3 study called CedLara to treat patients with celiac disease who continue to experience gastrointestinal symptoms while adhering to a gluten-free diet. Celiac disease is an immune reaction which gets triggered in the small intestine due to eating gluten. The 24-week study's main efficacy goal was to evaluate the change in disease severity from baseline to 12 weeks. The company added that the interim analysis included the first ~50% of the initial target enrollment and followed completion of a 12-week double-blind efficacy

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9 Meters stock slumps 54% as phase 3 Celiac disease trial of larazotide gets axed