Q32 Bio (NASDAQ: QTTB) faced a harsh market reaction after announcing mixed results from its Phase IIa trials of bempikibart, an interleukin-7 receptor alpha (IL-7Rα) monoclonal antibody. While the drug showed potential in treating alopecia areata (AA), its failure in an atopic dermatitis (AD) trial led to an 85% drop in the company's stock price. Meanwhile, BioAge Labs (NASDAQ: BIOA) also experienced a significant stock plunge after halting a Phase II trial of azelaprag due to safety concerns.
Bempikibart's Conflicting Trial Outcomes
Q32 Bio highlighted positive topline results from the Phase IIa SIGNAL-AA trial (NCT06018428), where bempikibart demonstrated a mean reduction in Severity of Alopecia Tool (SALT) score of 16% at week 24, compared to a 2% reduction in the placebo group. Nine percent of bempikibart-treated patients achieved a SALT score less than or equal to 20, versus 0% for placebo. The company plans to initiate Part B enrollment in the first half of 2025, including a loading regimen.
However, the Phase IIa SIGNAL-AD trial (NCT05509023) did not meet its primary endpoint, with bempikibart showing a 74% improvement in Eczema Area and Severity Index (EASI) scores, while the placebo group showed a slightly better 76% improvement. This discrepancy led to a significant selloff, with analysts downgrading the stock and lowering price targets.
Leerink Partners analyst Thomas J. Smith noted the disappointing AD results and acknowledged that while bempikibart showed a modest efficacy signal in AA, the positive results were tempered by protocol violations and early treatment discontinuation by some patients.
BioAge's Azelaprag Trial Halted Due to Safety Issues
BioAge Labs saw its shares plummet 67% after a safety issue led to the termination of its Phase II STRIDES trial (NCT06515418) of azelaprag, an oral apelin receptor (APJ) agonist. Elevated liver enzymes were observed in 11 of the 204 enrolled participants, both in the monotherapy and tirzepatide combination arms, but not in the tirzepatide-only group.
Citi analyst Samantha Semenkow, PhD, downgraded BioAge shares, citing the unexpected liver safety setback. Jefferies equity analyst Roger Song, MD, suggested that the liver toxicity might be related to the higher doses and longer exposure to azelaprag in the Phase II trial compared to previous Phase I studies.
BioAge plans to shift its focus to a CNS-penetrant NLRP3 inhibitor targeting metabolic diseases and neuroinflammation, with clinical data expected no earlier than 2026.
Other Notable Stock Movements
Candel Therapeutics (NASDAQ: CADL) experienced a 113% stock surge after announcing positive results from a Phase III trial (NCT01436968) of CAN-2409 in prostate cancer patients, showing a statistically significant improvement in disease-free survival. uniQure (NASDAQ: QURE) shares more than doubled after reaching an agreement with the FDA on key elements of an Accelerated Approval pathway for its Huntington’s disease candidate AMT-130.
Conversely, CervoMed (NASDAQ: CRVO) shares plunged 79% after its lead program, neflamapimod, failed the Phase IIb RewinD-LB trial (NCT05869669) for dementia with Lewy bodies. Chimerix (NASDAQ: CMRX) shares more than tripled after announcing plans to submit an NDA for dordaviprone as a treatment for recurrent H3 K27M-mutant diffuse glioma.
