Vir Biotechnology Inc. (Ticker: VIR) announced on Thursday that its Phase 2 trial, called Peninsula, evaluating VIR-2482 for the prevention of symptomatic influenza A illness, did not meet its main goals. The trial, which involved approximately 3,000 men and women aged 18 to 64, failed to achieve its primary or secondary endpoint, according to a statement released by the company.
Disappointing Results in Symptomatic Flu Treatment Trial
The highest dose group of participants who received VIR-2482 (1,200 mg) saw a non-statistically significant reduction of approximately 16% in influenza A protocol-defined illness, as stated in the company’s announcement. However, this reduction did not meet the desired outcome. Conversely, this group experienced a notable 57% reduction in symptomatic influenza A illness.
Further Analysis Needed and Future Plans
While these initial findings are discouraging, Vir Biotechnology plans to conduct a thorough analysis to gain a deeper understanding of the outcomes. The company intends to present these findings at a prominent medical congress in the future. Dr. Phil Pang, Vir’s Executive Vice President, Chief Medical Officer, and Interim Head of Research emphasized the importance of further analysis in the statement.
Stock Performance and Outlook
The stock for Vir Biotechnology was temporarily halted following the announcement. Year to date, the company’s stock has declined by 9%, contrasting with the S&P 500’s 19% increase.