Shares in Aimmune Therapeutics (NASDAQ:AIMT) raced up nearly 30% in New York on Monday in response to the announcement from DBV Technologies' (NASDAQ:DBVT) over its peanut allergy treatment.
Meanwhile, shares in the latter plunged over 46% to US$26.21 to be the worst performer on Nasdaq on Monday. Aimmune Therapeutics on the other hand raced up to US$33.23 each.
Viaskin Peanut, the DBV treatment, reportedly failed to demonstrate sufficient efficacy in a pivotal phase III trial.
The trial was evaluating the safety and efficacy of Viaskin Peanut in children four to 11 years.
Topline results showed a statistically significant response with a favorable tolerability profile, with 35.3% of patients responding to Viaskin Peanut 250 µg after 12 months of treatment as compared to 13.6% of patients in the placebo arm.
However, the primary endpoint did not reach the point as had been proposed in the study's Statistical Analysis Plan (SAP) submitted to the US FDA.
Aimmune's lead candidate is an orally administered biologic that desensitizes patients with peanut allergy.
A Phase 3 study, PALISADE, is ongoing with an estimated completion date of September 2018.