HanAll Biopharma is plunging 13% early on the 3rd after news that its thyroid eye disease drug candidate "batoclimab" failed to demonstrate efficacy in phase 3.
As of 9:31 a.m. on the day, HanAll Biopharma is trading on KOSDAQ at 47,200 won, down 7,200 won (13.24%) from the previous session.
According to the clinical results HanAll Biopharma disclosed after the market closed the previous day, the study, which targeted adult patients with active thyroid eye disease, used the "proptosis response rate" at week 24—after 12 weeks of high-dose (680 mg) batoclimab followed by 12 weeks of low-dose (340 mg)—as the primary endpoint, but statistical efficacy was not confirmed.
However, in terms of safety and tolerability, the results were consistent with the previous phase 3 trial in myasthenia gravis and phase 2 trial in Graves' disease, and no newly identified serious adverse events were observed.