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Kiniksa Pharmaceuticals Shares Fall After Test Results

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Shares of Kiniksa Pharmaceuticals saw a decline on Thursday following disappointing test results from one of the company’s study cohorts. The stock was down 9.9% to $18 during midday trading, although it is still up 9.9% in the last three months.

Study Results and Clinical Effect

Kiniksa Pharmaceuticals, a biopharmaceutical company, announced on Thursday that the biweekly-dose level of one cohort in its Phase 2 clinical study of abiprubart for treating rheumatoid arthritis did not achieve statistical significance. However, the company reported positive clinical effects in the first three cohorts.

Cohort 3 Achieves Statistical Significance

Despite facing a high placebo response rate, Kiniksa highlighted that the 5mg/kg weekly dose level in Cohort 3 managed to achieve statistical significance. This discovery is significant given the challenging circumstances.

Determining Next Steps

Sanj Patel, Chief Executive of Kiniksa Pharmaceuticals, stated that they would analyze the comprehensive dataset to make informed decisions regarding the future of the program.

Study Breakdown

Cohort 3 formed a crucial part of the study’s proof-of-concept phase, while the initial two cohorts served as a lead-in to evaluate pharmacokinetics, safety, and tolerability. The company plans to release results from the fourth cohort sometime in the second quarter of 2024.

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