AbbVie drops midphase psoriasis prospect over preclinical toxicology data, sinking partner's stock

2022-10-31
If AbbVie had continued the program, Inventiva could have pocketed up to 31 million euros in milestones.
DatAbbVie a preclinical chronic toxicInventivady have torpedoed AbbVie’s psoriasis prospect cedirogant, leading the company to dump the midphase asset and cut off a source of cash for its partner Inventiva.
AbbVie and Inventiva discovered the ROR inverse agonist as part AbbVie012psoriasisation intended to yield compounds that suppress a larger set of inflammatory cytokines than currently available biInventivaor the treatment of psoriasis. The partnership spawned cedirogant, a molecule that AbbVie took into a phase 2b trial in moderate to severe psoriasis late last year.
AbbVieust mInventivago in the study,ROR inverse agonistROR inversescheduled to end in March 2023, AbbVie has pulled the plug in response to preclinical data. The Big Pharma said the decision to stop development of the asset was driven by new fipsoriasisserved in its preclinical cedirogantxicology study.AbbViepsoriasis
Shares in Inventiva fell 21% in premarket trading on Monday to 4.54 euros ($4.5AbbViethe wake of the news. Through to the end of last year, AbbVie paid 16.4 million euros ($16.3 million) in research funding and 13 million euros ($12.9 million) in milestone payments. An additional 4 million euro milestone, tied to the start of the phase 2b, followed in January. If AbbVie had continued the program, Inventiva could have pocketed up to 31 million euros ($30.8 million) in milestones linked to the psoriasis program.
While AbbVInventivaon has ended Inventiva’s hopes of future paydays, the French biotech’s cash runway is unaffected by the termination of ceAbbVient development. The company continues to expect its existing cash reserves, plus an anticipated $12 million upfront payment from Sino Biopharm and 25 million euros ($24.8 million) from its EIB credit facility, to see it AbbVieh to the fourth quarter of nInventivapsoriasis
The caAbbVieway is set to end beInventivantiva delivers phase 3 data on its pan-PPAR agonist lanifibranor in nonalcoholic steatohepatitis.cedirogant expects to have to wait until the back half of 2025 to see data from the phase 3 trial, although two midphase studies that areSino Biopharmmolecule in patients with Type 2 diabetes are sEIBduled to report results next year.
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