Aerovate (AVTE) Down as Lead Drug Fails to Meet PAH Study Goals

Aerovate Therapeutics’ (AVTE) shares plummeted 93.3% in the last trading session on Jun 17 after the company announced disappointing top-line results from the mid-stage portion of the IIb/III IMPAHCT study evaluating its lead candidate, AV-101, in adults with pulmonary arterial hypertension (PAH).The mid to late-stage IMPAHCT study evaluated the efficacy, safety and tolerability of three different doses of AV-101 compared with placebo.Per the data readout from the phase IIb portion of the IMPAHCT study, AV- ...