Angion Stock Falls As Lead Product Candidate Flunks In COVID-19 Trial

Angion Biomedica Corp ANGN has announced data from a small exploratory Phase 2 ALI-201 trial of ANG-3777 in patients with severe COVID-19 related pneumonia at high risk for acute respiratory distress syndrome (ARDS).
The study failed to meet the primary or secondary efficacy endpoints.
The 120-subject trial evaluated the safety and efficacy of four doses of ANG-3777 to reduce the severity and progression of acute lung injury in patients with COVID-19 associated pneumonia who are at high risk of progressing to ARDS.
The trial's primary endpoint was survival-free from the need for mechanical ventilation or dialysis at 28 days.
The active arm of the trial did not show a statistically significant difference over the standard of care arm.
The number of adverse events, serious adverse events, and fatal events reported in ALI-201 were slightly higher than the standard of care control arm.
But no new or unexpected safety signals resulted from the trial.
The company expects to report data from the ANG-3777 Phase 3 trial in transplant-associated acute kidney injury by the end of 2021.
Data from the ANG-3777 Phase 2 proof-of-concept trial for acute kidney injury associated with cardiac surgery involving cardiopulmonary bypass surgery is expected in the second half of 2021.
Price Action: ANGN shares are down 10.4% at $12.94 during the premarket session on the last check Wednesday.