Angion Biomedica Pulls The Plug On Another Kidney Disease Trial - Read Why

Angion Biomedica Corp ANGN has discontinued the JUNIPER Phase 2 trial of ANG-3070, an oral tyrosine kinase inhibitor, in primary proteinuric kidney diseases, specifically focal segmental glomerulosclerosis and immunoglobulin A nephropathy.
The trial began enrolling patients in December 2021.
A reassessment was conducted following a potential safety signal of an unexpected and substantial decline in kidney function in a patient in the trial's drug treatment arm.
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"Based on our ongoing analysis of the risk/benefit profile of ANG-3070 in patients with primary proteinuric kidney disease, we believe it to be in the best interest of patients to discontinue our Phase 2 JUNIPER study at this time..," stated CEO Jay Venkatesan.
Angion expects to report more than $60 million in cash and cash equivalents at the end of Q2.
In April, the company decided to discontinue the development of ANG-3777 after disappointing data.
Price Action: ANGN shares closed 18.7% lower at $1.39 during after-hours trading on Wednesday.