Dec 1 (Reuters) - Aradigm Corp reported mixed data on its inhaled antibiotic for an incurable rare disease associated with chronic lung infections from two late-stage trials.
The company’s shares tumbled 21.7 percent to $4.10 in light premarket trading on Thursday.
The once-a-day formulation, Pulmaquin, is being tested in patients with non-cystic fibrosis bronchiectasis (non-CF BE) who have chronic lung infections with the bacteria P. aeruginosa.
The severe, chronic disease, which is characterized by abnormal dilatation of the bronchi and bronchioles, has no drug approved for it so far.
Pulmaquin was tested in two similar late-stage trials. In ORBIT-4 the treatment showed statistically significant benefits than a placebo. In ORBIT-3, Pulmaquin did not show a statistically significant benefit, although it did outperform the placebo. (Reporting by Divya Grover; Editing by Saumyadeb Chakrabarty)