Osiris’ stem cell drug fails in two late-stage trials

Growing stem cellsReuters) – Adult stem cell research firm Osiris Therapeutics Inc said two late-stage trials testing its lead product to treat a rare condition that affects bone marrow transplant patients failed to meet the main study goals.

Osiris shares sank 52 percent to $5.89 in trading before the bell from their Friday’s close of $12.21 on Nasdaq.

The drug, Prochymal, did not show any statistical benefit over a dummy drug in either of the trials that were evaluating the drug in Graft vs Host Disease (GvHD).

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