Versartis plummets on Phase III GHD miss

Versartis Inc. (NASDAQ:VSAR) lost $18.93 (88%) to $2.67 on Friday after announcing after market close Thursday that somavaratan (VRS-317) missed the primary endpoint in the Phase III VELOCITY trial to treat pediatric growth hormone deficiency (see BioCentury Extra, Sept. 21).

The company said it will continue to evaluate the data and provide an update on the program later this year. Versartis has rights to the long-acting recombinant human growth hormone (rhGH) from Amunix Operating Inc. (Mountain View, Calif.)...