The NASDAQ-listed company told investors yesterday that the study of dalantercept plus axitinib did not achieve its primary endpoint of demonstrating a statistically significant increase in placebo versus the placebo.
Dalantercept also failed to cut the rate of disease progression or death, with Acceleron choosing to dump the drug on the back of the unimpressive data.
The setback intensifies the focus, and pressure, on Acceleron’s lead, Celgene-partnered rare blood disease drug, luspatercept.
Shares initially floundered late on Monday but they’ve recovered most of those in early deals on Tuesday.
The stock is currently up 6%, or US$1.67, to US$29.90.