Osiris Therapeutics’ dreams to develop the world’s first FDA approved stem cell therapy looked to be in tatters yesterday after the failure of its lead candidate Prochymal in not one but two phase III trials for graft versus host disease (GvHD), an event that caused shares in the group to plummet 34%, touching a record low of $7.73 this morning.
Prochymal was designed to prevent immune cells from donor transplants attacking the transplant patients' organs. In two sets of trials, in acute GvHD for newly diagnosed patients and also for those who had failed on steroid treatments, the drug failed to show any effectiveness above placebo.
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