The company expects data later this month from a mid-stage study and plans to discuss a late-stage development program with the U.S. FDA.
As of the last close, the stock was down about 39% year to date.
Other results showed lung function and visit reductions
The drug significantly improved lung function within one week, showing a 130 mL greater improvement versus placebo.
The experimental treatment also cut emergency department or unscheduled doctor visits for worsening asthma symptoms by 50%.
Stock falls after early-stage trial misses main endpoint
Shares of biotech firm Connect Biopharma CNTB.O fell 28.7% to $1.23 premarket.
The company said its experimental asthma drug, rademikibart, failed to meet the main goal of an early-stage study in patients experiencing severe asthma flare-ups, despite reducing treatment failures by 66% versus placebo.
Connect said the treatment failure endpoint did not reach statistical significance because the study had a lower-than-expected treatment failure rate.
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