BioLineRx plummets after discontinuing CLARITY trial
BioLineRx Ltd. (Tel Aviv:BLRX; NASDAQ:BLRX) fell $2.01 (53%) to $1.80 on Wednesday after discontinuing the Phase II/III CLARITY trial evaluating BL-1020 to treat schizophrenia. The move came after a pre-planned interim analysis of 168 evaluable patients experiencing an acute exacerbation of schizophrenia by a blinded, independent DMC showed that BL-1020 would not meet the primary endpoint of improving cognition from baseline to week six vs. Risperdal risperidone from Johnson & Johnson (NYSE:JNJ). BioLineRx had gained 40% since announcing in early January that interim results were expected this week.
BioLineRx said it will perform a complete analysis of unblinded data from all 230 patients enrolled before determining next steps for the GABA enhanced antipsychotic agent. The trial was slated to enroll about 435 patients. ...