AZ returns asthma candidate's rights to Synairgen

Synairgen plc (LSE:SNG) lost 12.75p (49%) to 13.25p on Thursday after it said AstraZeneca plc (LSE:AZN; NYSE:AZN) is returning rights to AZD9412 (SNG001), an inhaled interferon (IFN) beta that was studied to treat asthma.

The biotech said the Phase IIa INEXAS trial evaluating AZD9412 to treat respiratory virus-induced exacerbations of asthma did not meet AstraZeneca's predefined progression criteria. In October 2016, Synairgen said AstraZeneca stopped the trial after an interim analysis found that an "overall very low number of reported severe exacerbations could make primary endpoint conclusions difficult" (see BioCentury Extra, Oct. 12, 2016)...