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Acceleron Pharma rebounds after failed mid-stage kidney cancer trial

Acceleron dumped its dalantercept drug on Monday following unimpressive data, but investors don’t seem too concerned today

cancer cells under a microscope
The share price has regained all the ground it lost on Monday

Acceleron Pharma Inc (NASDAQ:XLRN) has rebounded this morning after the failure of its DART mid-stage kidney cancer trial on Monday.

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.

Quick facts: Acceleron Pharma Inc

Price: 111.07 USD

NASDAQ:XLRN
Market: NASDAQ
Market Cap: $6.65 billion
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