(Reuters) – KalVista Pharmaceuticals Inc said on Tuesday it had ended a mid-stage study for its drug to prevent recurrent swelling attacks in people with hereditary angioedema, due to safety concerns.
The company’s shares sank about 33% to $9.50 in premarket trading.
KalVista said it ended the trial due to increased level of liver enzymes in some patients, which can lead to liver damage if kept unchecked.
“The current formulation will not meet our requirements for a best-in-class oral prophylactic therapy” Chief Executive Andrew Crockett said in a statement.
Hereditary angioedema is a rare disease characterized by recurrent episodes of severe swelling of the skin and mucous membranes.
(Reporting by Khushi Mandowara in Bengaluru; editing by Uttaresh.V and Savio D’Souza)
