Bellerophon Therapeutics (NASDAQ:BLPH) stock is taking a massive beating on Monday after the pharmaceutical company posted poor clinical trial results.
The bad news for BLPH stock comes from its Phase 3 clinical trial of INOpulse as a treatment for fibrotic Interstitial Lung Disease (fILD). Unfortunately for investors, the company’s clinical trial failed to meet its primary endpoint.
In fact, the company notes that INOpulse actually performed worse than the placebo during its clinical trial. Likewise, the clinical trial failed to reach statistical significance for any of its secondary endpoints. The only good news from the study is that there were no safety concerns.
Peter Fernandes, CEO of Bellerophon Therapeutics, said the following about the clinical trial results:
“The REBUILD study did not match the outcomes we saw in the exploratory Phase 2 study in this patient population; however, the overall outcome of this pivotal validation study is conclusive and we do not see a path forward for continuing the REBUILD trial.”
How This Affects BLPH Stock Today
Investors aren’t happy about the negative results from the Phase 3 clinical trial. This has shares of BLPH stock seeing heavy trading this morning. As of this writing, more than 1.6 million shares of the stock have changed hands. For the record, the daily average trading volume for the company’s stock is closer to 1.3 million shares.
BLPH stock is down 79.3% as of Monday morning.
Investors seeking out more of the latest stock market news will want to stick around!
We have all of the latest stock market coverage traders need to read about on Monday! Among that is what’s moving shares of Cyxtera Technologies (NASDAQ:CYXT), Mallinckrodt (NYSEMKT:MNK), and Chijet Motor (NASDAQ:CJET) stock today. You can find out more on these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
