(Reuters) - Eiger BioPharmaceuticals Inc said on Tuesday it would stop development of its drug to treat pulmonary arterial hypertension, a type of high blood pressure, after it failed in a mid-stage study.
The drug developer’s shares slumped about 39 percent to $9.7 in premarket trading.
The drug, ubenimex, failed the main goal of improving pulmonary vascular resistance, the company said.
Pulmonary arterial hypertension occurs when the arteries of the lungs constrict, forcing the heart to work harder and potentially leading to heart failure.
However, the company said it would continue testing the drug for lymphedema, a blockage that causes swelling in the arms and legs.
The data for a mid-stage trial in lymphedema is expected in the second half of year, the company said.
Reporting by Manas Mishra in Bengaluru; Editing by Martina D'Couto and Sriraj Kalluvila
