The stock price of Bridge Biotherapeutics, listed on the KOSDAQ, has been plummeting for two consecutive days following the news that it failed to prove the efficacy of its new drug for pulmonary fibrosis in a Phase 2 clinical trial.
As of 9:36 a.m. on the 16th, Bridge Biotherapeutics was trading at 4,400 won, down 1,880 won (29.94%) from the previous trading day.
Bridge Biotherapeutics announced on the 14th, after market close, that it did not confirm significant improvement in its Phase 2 clinical trial of ‘BBT-877’ for idiopathic pulmonary fibrosis, a rare disease that causes the lungs to harden and lose function, which can lead to death in severe cases.
Following this news, Bridge Biotherapeutics' stock price fell to the lower limit (the lowest price limit for the day) again today, continuing from the previous day.
A representative from Bridge Biotherapeutics noted, “We plan to closely review individual patient data after receiving the final clinical trial report, and based on this, we will re-establish our future clinical development and business strategy.”