Eleven back to drawing board after Phase III miss

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) fell $1.82 (78%) to $0.52 on Monday after reporting that isunakinra ( EBI-005) missed the primary endpoint in a 258-patient Phase III trial to treat moderate to severe allergic conjunctivitis. Eleven started the trial in August after previously reporting mixed Phase II results in the indication.

There were no significant differences on the primary endpoint of patient-reported ocular itching or on any secondary endpoints between patients receiving isunakinra or vehicle for four weeks. The company said it sees no immediate path forward for isunakinra in allergic conjunctivitis. ...