Dec. 4, 2014, 7:24 AM
- Thinly-traded nano cap Kindred Biosciences (NASDAQ:KIN) plummets 24% premarket on robust volume in response to its announcement that it is terminating its atopic dermatitis program, including its AtoKin study, in favor of more promising programs.
- CEO Richard Chin says the main reason for the move is the rapid uptake of a recently-launched atopic dermatitis product that has raised the bar for future competitors. He doesn't believe AtoKin is differentiated enough to be a market leader.
- Kindred has been in a down trend March. Shares have dropped almost 75% since the March 14 peak of $26.99.
- BMO analyst Alex Arfaei says Kindred's decision is "incrementally positive" for Zoetis' (NYSE:ZTS) Apoquel, which could hit $300M in sales by 2019.
Aug. 21, 2014, 1:11 PM
Aug. 21, 2014, 9:10 AM
Aug. 20, 2014, 5:07 PM
- 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.
Apr. 10, 2014, 12:45 PM
Apr. 3, 2014, 12:45 PM
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Jan. 9, 2014, 4:24 PM
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