Shares of Aerovate Therapeutics have fallen 90% to $2.50 after the company announced that the Phase 2b portion of the Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial, a Phase 2b/Phase 3, randomized, double-blind, placebo-controlled, multi-national trial of AV-101, a novel dry powder inhaled formulation of imatinib, in adults with pulmonary arterial hypertension, did not meet its primary endpoint for improvement in PVR compared to placebo for any of the studied doses or show meaningful improvements in the secondary endpoint of change in six minute walk distance.
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