Pieris sinks 60% as AstraZeneca halts mid-stage trial for Asthma candidate
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Pieris Pharmaceuticals (NASDAQ:PIRS) lost ~60% pre-market Wednesday after announcing that its partner AstraZeneca (NASDAQ:AZN) has decided to halt dosing and discontinue its Phase 2a trial for elarekibep, an experimental therapy for asthma.
The decision follows safety data from a 13-week non-clinical study for a dry powder inhaler-formulation of elarekibep.

According to Astra (AZN), the non-human primate trial indicated no clinical findings across any of the doses. However, there were non dose-dependent lung tissue damages linked to inflammation, Pieris (PIRS) said.
The company added that favorable longer-term non-clinical data would be essential to support later-stage advancement of its ongoing Phase 2a study for elarekibep.
"We will now reassess our priorities and communicate a corporate update as quickly as possible following a thorough review of our options," remarked CEO Stephen Yoder.


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