Gilead Sciences, Inc. (NASDAQ: GILD) and Galapagos (NASDAQ: GLPG) have disclosed that they both intend to stop Phase 3 clinical trial with the autotaxin inhibitor ziritaxestat in sufferers with idiopathic pulmonary fibrosis. The decision has been taken after the IDMC has disclosed that this benefit-risk profile is not enough to continue the study.
Researchers are being notified of the decision and they will notify the research participants to stop the experimental therapy. The ISABELA Phase III trial is comprised of two trials ISABELA I & II. Researchers were planning to register 1,500 IPF patients.
Shares of Gilead Sciences (NASDAQ: GILD) soared 0.16% at $67.41 during the trading session of Wednesday. It has recorded a trading volume of 3.10 million as compared to the average volume of 9.22 million. Its share has oscillated between the 52-week low range of $56.56 and the 52-week high range of $85.97. Gilead Sciences has a total market capitalization of $81.12 billion at the time of writing.
On the other hand, shares of Galapagos NV (NASDAQ: GLPG) shares went down 18.33% at $89.27 during the trading session of Wednesday. It has a day low and high range of $89.00 and $96.71, respectively. Its share has fluctuated between the 52-week low range of $93.01 and the 52-week high range of $274.03. Galapagos NV has a total market capitalization of $7.15 billion at the time of writing.
CMO of Galapagos stated that it is very disappointing news that the firm is not able to continue the cure for the devastating disease. CMO has expressed gratitude to the sufferers and medical professionals who have helped the firm in the trial.