Kadmon falls after Phase II IPF data

Kadmon Holdings Inc. (NYSE:KDMN) fell $1.03 (21%) to $3.81 on Tuesday after reporting top-line data from the Phase II KD025-207 trial of KD025 to treat idiopathic pulmonary fibrosis in patients previously treated with or offered Esbriet pirfenidone or Ofev nintedanib.

The company did not disclose p-values from the open-label trial, which may have left investors uncertain as to how the compound will stack up against marketed IPF drugs. Investors may need to wait until May for details, when Kadmon plans to present the data at the American Thoracic Society meeting in San Diego...