Amgen Shares Up, Will Continue Phase 3 Heart Failure Trial
February 26 2020 - 3:40PM
Dow Jones News
By Michael Dabaie
Amgen Inc. shares rose 2% to $214.59 in afternoon trading.
Before the market open, Amgen, Cytokinetics Inc. and Servier
said they would continue the GALACTIC-HF Phase 3 heart failure
trial following a planned interim analysis. The companies said the
Data Monitoring Committee recommended the Phase 3 clinical trial of
omecamtiv mecarbil in patients with heart failure continue without
changes.
Topline results are expected in the fourth quarter.
GALACTIC-HF completed enrollment of more than 8,200 patients in
35 countries who were either hospitalized at the time of enrollment
for a primary reason of heart failure, or had a hospitalization or
admission to an emergency room for heart failure within one year
prior to screening.
Omecamtiv mecarbil is being developed by Amgen in collaboration
with Cytokinetics, with funding and strategic support from
Servier.
In 2006, Cytokinetics and Amgen entered into a strategic
alliance for therapeutics for the potential treatment of heart
failure.
Amgen holds an exclusive, world-wide license to omecamtiv
mecarbil and related compounds, subject to Cytokinetics' specified
development and commercialization rights. Cytokinetics is eligible
for pre-commercialization and commercialization milestone payments
and royalties.
Cytokinetics shares were down 5.6% to $13.89 in afternoon
trading.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
February 26, 2020 15:25 ET (20:25 GMT)
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