Kindred Bio canine arthritis drug fails clinical trial

|About: Kindred Biosciences, Inc. (KIN)|By:, SA News Editor

Shares of Kindred Biosciences (NASDAQ:KIN) plummet 34% on robust volume in response to the company's disclosure that its lead product candidate, CereKin (diacerein), an interleukin-1 inhibitor for the control of pain and inflammation associated with osteoarthritis in dogs, failed to achieve its primary endpoint in a clinical trial.

The failure was due to a higher-than-expected placebo response rate and statistical variability. In the high dose (20 mg/kg) cohort, the response rate was comparable to human studies but the dropout rate was too high to achieve statistical significance.