Alder's Shares Dip Despite Positive Migraine Trial Results
Zacks Investment Research | Jun 27, 2017 11:00PM ET
Alder Biopharmaceuticals, Inc.’s (NASDAQ:ALDR) shares plummeted almost 28% despite the announcement of positive top line results from phase III PROMISE I study, evaluating its lead pipeline candidate eptinezumab (ALD403) for prevention of frequent episodic migraine.
Though the study has met both is primary and secondary endpoints, the safety profile of eptinezumab was almost in line with placebo and consistent with the previously reported eptinezumab trials.
The PROMISE 1 study evaluated the efficacy and safety of eptinezumab across three doses (300mg, 100mg or 30mg), administered by intravenous infusion once every 12 weeks through week 24. The study has met its primary endpoint, inducing a mean change in monthly migraine days from baseline for weeks 1 through 12.
Patients who were applied with eptinezumab had experienced a 4.3 monthly migraine days reduction for 300mg and 3.9 days for 100mg compared with an average 3.2 days under the effect of placebo.
Good news is that a significant decrease in proportion of patients suffering from migraine was observed from day one, after the first dose was administered. In the opening month under trial, 31.5% and 30.8% of patients administered with eptinezumab dosages of 300mg and 100mg respectively, had experienced an above 75% drop in monthly migraine days from baseline versus 20.3% with placebo. As it is evident, the results were not substantially better than placebo, causing the shares to inevitably downslide.
Shares of Alder have underperformed the Zacks classified Zacks Investment Research
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