Merck's Remigromig Hits Primary Endpoint in Pivotal DME Trial, First Novel Mechanism in 20 Years
MRK sits 90% above its 52-week low of $77.58.
Summary
Merck's remigromig met its primary endpoint in the pivotal Phase 2b/3 BRUNELLO trial for diabetic macular edema, showing non-inferiority to ranibizumab on visual acuity at 52 weeks. This is the first new mechanism of action in DME in two decades, potentially addressing the up to 40% of patients who don't fully respond to anti-VEGF therapy. However, higher rates of proliferative diabetic retinopathy, vitreous hemorrhage, and treatment discontinuations were seen in the remigromig arms, which could temper enthusiasm. Full results will be presented at AAO on October 10, and the company plans to discuss with regulators. The outcome adds a meaningful late-stage asset to Merck's ophthalmology pipeline, which also includes MK-8748 in multiple pivotal trials.
At the time of this announcement, MRK was trading at $147.46 on NYSE in the Life Sciences sector, with a market capitalization of approximately $365.3B. The 52-week trading range was $77.58 to $156.92. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.