AstraZeneca PLC (LON:AZN) posted disappointing results for phase III trials assessing diabetes drug Farxiga in Coronavirus (COVID-19) patients.
The primary goals were prevention of organ dysfunction and death as well as recovery over 30 days.
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The FTSE 100 company said the candidate did not achieve statistical significance in treating people hospitalised after contracting the virus and at risk of developing serious complications.
DARE-19, the name of the Phase III trial, evaluated patients hospitalised with COVID-19 who also had risk factors for developing serious complications
Cardiac, renal and metabolic comorbidities have been associated with poor outcomes and death in patients hospitalised with COVID-19, the pharma giant said.
"Prior to the DARE-19 Phase III trial, there was little data on the use of SGLT2 inhibitors in hospitalised patients with COVID-19 and we have now helped to fill this knowledge gap. We look forward to the efficacy and safety data being presented in the coming weeks,” said Mene Pangalos, Executive Vice President of BioPharmaceuticals R&D, in a release.
Shares were flat at 7,256p on Monday morning.