AstraZeneca Axes Pneumonia Drug Pact With Aridis

  • AstraZeneca plc AZN scrapped its license agreement with Aridis Pharmaceuticals Inc ARDS.
  • With the license terminated for AR-320 (suvratoxumab), the ongoing AR-320-003 Phase 3 clinical study must be put on hold, the company said in an SEC filing.
  • The SAATELLITE-2 trial enrolled the first patient in September 2022, and was expected to enroll 564 intubated and ventilated patients.
  • The companies entered the agreement in July 2021, under which Aridis said it would make an upfront payment of $11 million to AstraZeneca and dish out up to $115 million more for development and sales milestones tiered royalties on any potential product sales.
  • The trial was partly funded by the European Commission's Innovative Medicines Initiative, which contributed up to €25 million to the study.
  • In January, Aridis' other late-stage study, AR-301-002 Phase 3 study of AR-301 combined with antibiotics, failed to meet the primary endpoint of increasing the clinical cure rate at day 21 compared to antibiotics alone
  • The clinical cure rate at day 21 was 68.9% for AR-301 plus antibiotics versus 57.6% with antibiotics alone. There was an 11.3% difference between the arms. The result was not statistically significant (p=0.23).
  • Price Action: ARDS shares are down 0.97% at $0.39 on the last check Wednesday.
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