KaloBios Pharma -38% AH on decision to stop asthma study

|About: KaloBios Pharmaceuticals (KBIO)|By:, SA News Editor

KaloBios Pharmaceuticals (KBIO) -38.7% AH after saying it will discontinue development of its KB003 treatment for severe asthma following initial data evaluation of a Phase 2 study which didn't meet its primary clinical endpoint of improvement when compared to placebo.

KBIO had targeted the severe asthma population, which represents 5%-10% of the world's total asthma population of ~300M people.

CEO David Pritchard says KBIO will refocus efforts on advancing its other treatments under development, including an oncology program and a potential treatment for cystic fibrosis.