Chimerix Inc said its oral antiviral drug did not significantly reduce a certain kind of infection in stem cell transplant patients in a late-stage study, sending its shares down 72 percent in premarket trading.
Patients taking the drug, brincidofovir, did not experience significant reduction in cytomegalovirus (CMV) infection through week 24 after transplant.
CMV is a member of the herpes virus family and remains a significant cause of viral infections in transplant recipients.
The company said its lead drug failed to achieve the main goal due to cases of graft-versus-host-disease (GVHD), a complication that occurs when transplanted donor cells attack the recipient's body.
Chimerix said pending the availability of complete data from late-stage trial of the drug, it has paused further enrollment of kidney transplant patients.
The Durham, North Carolina-based company plans to continue the trials testing brincidofovir in serious DNA virus infections and smallpox.
Chimerix's shares were down 72 percent at $9.80 in premarket trading.
(Reporting by Amrutha Penumudi and Anjali Rao Koppala in Bengaluru; Editing by Shounak Dasgupta)
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