VELOCITY Failure For Versartis's Lead Drug Sends Shares Into Tailspin
Versartis's long-acting growth hormone product missed Phase III non-inferiority endpoint, wiping more than 83% of the company's value.
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Versartis has signed the first licensing deal for its long-acting growth hormone product, tapping Teijin as a commercial partner in Japan.
Shares of Versartis rocketed 33.2% on 6 July after the FDA lifted the partial clinical hold on the firm's investigational new drug application for its long-acting form of recombinant human growth hormone (rhGH) VRS-317, which is being investigated to treat growth hormone deficiency (GHD).
The third quarter could bring US approvals for a range of novel drugs, including the first treatment for a common eye disease, the first US approval of PD-1/L1 inhibitor from a Chinese firm, and the first oral therapy for postpartum depression.