PhaseBio Pulls Plug On Mid-Stage Hypertension Asset

PhaseBio Pharmaceuticals Inc PHAS is voluntarily ending its Phase 2b trial of pemziviptadil (PB1046) in pulmonary arterial hypertension (PAH).

• The decision follows COVID-19 impacts on manufacturing, associated drug supply, and enrollment rate in the study. 
• The Company will analyze the trial data to determine an appropriate path forward for the program. 
• Related: PhaseBio Says Antiplatelet Candidate Achieved Primary Reversal Endpoint In Late-Stage Study.
• With the suspension of the Phase 2b trial, the Company will reprioritize resources and capital towards pre-commercialization activities of bentracimab and the advancement of other pipeline programs. 
• The Phase 2b trial of pemziviptadil had enrolled more than 50% of the study's target population.
• Pemziviptadil is a subcutaneously injected VIP analog, a recombinant fusion protein composed of VIP and PhaseBio's proprietary elastin-like polypeptide (ELP) biopolymer. 
• Price Action: PHAS shares are down 0.80% at $2.48 during the market session on the last check Tuesday.