Pfizer Inc. on Tuesday shared additional data in a news release from two Phase 3 clinical trials for its experimental ulcerative colitis drug, etrasimod. One study found clinical remission of 32.1% in patients taking etrasimod compared to 6.7% for placebo after 52 weeks; the other study reported clinical remission of 24.8% for patients taking etrasimod compared with 15.2% for placebo after 12 weeks. Pfizer obtained etrasimod through its $6.7 billion acquisition of Arena Pharmaceuticals Inc. that closed earlier this year. The company said it plans to use the clinical data to support future regulatory filings. Pfizer’s stock is down 10.4% this year, while the broader S&P 500 has declined 18.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
