ANGN - Angion to discontinue phase 2 trial of ANG-3070 in patients with kidney disease

• Angion Biomedica ( NASDAQ: ANGN ) on Wednesday said it would discontinue its phase 2 JUNIPER trial evaluating its inhibitor ANG-3070 for the treatment of kidney diseases.
• The trial is being discontinued based upon a reassessment of the risk/benefit profile of ANG-3070 in patients with established serious kidney disease.
• The reassessment was done after an unexpected and substantial decline in kidney function in a patient in the trial’s drug treatment arm.
• An analysis of the blinded patient data also did not detect any reduction in proteinuria, which is an early indication of kidney disease.
• "We will continue to evaluate the potential of ANG-3070 as a treatment for patients with idiopathic pulmonary fibrosis, as well as to consider all strategic and operational options for Angion and its pipeline going forward,” said ANGN CEO Jay Venkatesan.
• ANGN also said it expects to report cash and cash equivalents in excess of $60M at the end of Q2.
• ANGN stock earlier closed -6% at $1.71.

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