Bellerophon plummets on BCM data

Bellerophon Therapeutics Inc. (NASDAQ:BLPH) lost $4.26 (56%) to $3.39 on Monday, bringing its market cap to $43.7 million, after the PRESERVATION I trial of its Bioabsorbable Cardiac Matrix (BCM) device ( BL-1040) missed its primary endpoint.

The company said there were no statistically significant treatment differences between patients treated with BCM vs. placebo. The primary endpoint was change in left ventricular end diastolic volume index (LVEDVI) at six months compared to baseline. Bellerophon plans to present detailed results on Sept. 1 at the European Society of Cardiology meeting in London. ...