Orexigen Therapeutics said Tuesday it has terminated a required cardiovascular outcomes trial of its obesity drug Contrave, after prematurely releasing interim study results in March.

The company noted that the study isn't being terminated because of the finding of superiority or harm. A new trial is expected to begin later this year and has a target completion date of 2022, Orexigen said.

Last September, Orexigen and its Japanese partner Takeda Pharmaceutical Co. received approval to market Contrave from the U.S. Food and Drug Administration. At the time, Contrave's label said the drug's effect on cardiovascular morbidity and mortality had not been established and warned of increased blood pressure and heart rate.

The FDA had approved the drug on the condition that the companies complete several post-marketing trials, including a long-term cardiovascular study known as Light.

Six months later, Orexigen unexpectedly disclosed interim data of the study. The 9,000-patient trial was designed to assess the extent to which the drug may increase the risk of a major cardiac event, but interim results indicated the drug may actually reduce cardiovascular risks compared with a placebo. The company, in a filing with the Securities and Exchange Commission, noted it was issued a patent for using its Contrave diet drug to prevent cardiovascular events and that the patent included details of the continuing study.

Orexigen shares jumped 32% on the news.

The FDA said it wasn't the first time Orexigen had inappropriately disclosed Light study data and required the company to begin a new trial later this year. Steve Nissen, a cardiologist at the Cleveland Clinic who was the lead researcher for the study, at the time said the disclosure of the incomplete data "was strictly forbidden."

On Tuesday, Orexigen and Takeda said they have accepted the recommendation of Dr. Nissen for the early termination of the Light study.

In a separate statement, Dr. Nissen said the Light study results "do not confirm cardiovascular benefits of Contrave claimed by Orexigen in the patent application based on the data obtained at the 25% time point in the trial."

Dr. Nissen added that the results show neither benefit nor harm, "but are consistent with the requirement by the FDA that the Light Trial demonstrate an absence of a doubling of cardiovascular risk for patients taking the drug."

"The inconsistency of effects on cardiovascular outcomes between the first 25% and the second 25% of the Light study clearly illustrates the risks inherent in prejudgment of clinical trial results based upon an interim analysis and demonstrate why interim results should remain confidential during any ongoing trial," said Dr. Nissen, who will lead the new study.

Orexigen and Takeda in 2010 entered into a partnership to develop and commercialize Contrave, after Orexigen submitted a New Drug Application to the FDA. Orexigen and rivals Arena Pharmaceuticals Inc. and Vivus Inc. tried for years to win approval of their diet drugs. Contrave was initially rejected in 2011; Arena's Belviq and Vivus's Qsymia won approval in 2012.

Contrave is a combination of two drugs already on the market: addiction-treating naltrexone and the antidepressant bupropion, commonly known by the brand name Wellbutrin. In the first quarter, Takeda reported Contrave U.S. net sales of $11.5 million, for which Orexigen earned $2.3 million in royalties.

Shares in the company, up 13% this year, fell 0.9% in morning trading.

Access Investor Kit for Takeda Pharmaceutical Co., Ltd.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3463000004

Access Investor Kit for Arena Pharmaceuticals, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0400471027

Access Investor Kit for Orexigen Therapeutics, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US6861641040

Access Investor Kit for Takeda Pharmaceutical Co., Ltd.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US8740602052

Access Investor Kit for VIVUS, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US9285511005

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Arena Pharmaceuticals (NASDAQ:ARNA)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Arena Pharmaceuticals Charts.
Arena Pharmaceuticals (NASDAQ:ARNA)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Arena Pharmaceuticals Charts.