An experimental pill for systemic lupus erythematosus failed to beat placebo on its main measure in a 408 patient trial, and the company developing it now plans to take the drug into late stage testing in a smaller group of patients where it says the results looked better.
Alumis reported that its Phase 2b LUMUS trial of envudeucitinib did not meet its primary endpoint or its key secondary endpoints in the overall study population. Investors reacted sharply, and shares fell sharply in a single session, losing more than half their value.
