CNTB - Connect Biopharma falls as ulcerative colitis candidate fails in mid-stage study

Connect Biopharma (NASDAQ:CNTB) is trading ~36% lower in the pre-market Wednesday after the clinical-stage biotech announced that its oral ulcerative colitis candidate CBP-307 did not meet the primary endpoint with statistical significance in a mid-stage trial. The 145-patient trial ran across more than 60 sites in four countries to evaluate the efficacy and safety of CBP-307 as an induction and maintenance therapy in adults with moderate-to-severe UC. According to topline data, the patients who received CBP-307 0.2 mg showed a 2.65 decline in terms of least squares mean change from baseline in adapted Mayo Score (the primary endpoint). The decline for the placebo group reached -2.01 with a p-value of 0.103. Per safety data, the incidence of drug-related treatment emergent adverse events for CBP-307 0.2 mg group and placebo group stood at 66.0% and 38.5%, respectively. Citing overall safety results, the company said that the experimental therapy was generally well tolerated. “Given

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Connect Biopharma falls as ulcerative colitis candidate fails in mid-stage study