Versartis falls on Phase III GHD miss
Versartis Inc. (NASDAQ:VSAR) plummeted $18.20 (84%) to $3.40 in after-hours trading Thursday after reporting that somavaratan (VRS-317) missed the primary endpoint of non-inferiority to Genotropin somatropin in the Phase III VELOCITY trial to treat pediatric growth hormone deficiency.
In the intent-to-treat (ITT) population, twice-monthly subcutaneous somavaratan failed to show non-inferiority to once-daily Genotropin in annual height velocity at 12 months (9.44 vs. 10.7 cm). Non-inferiority was defined as a lower bound of the two-sided 95% CI for the difference in height velocity between treatment groups of greater than or equal to -2.0 cm/year. In the ITT population, the lower bound of the two-sided 95% CI was -2.3 cm/year...