Contineum tumbles as Bristol’s partial trial win raises dose doubts
CTNM•Contineum shares fell 25.4% premarket after Bristol Myers’ admilparant met the main goal of a late-stage idiopathic pulmonary fibrosis trial at 60 mg, while the 120 mg dose missed statistical significance. Contineum is testing a once-daily drug targeting the same LPA1 pathway.
1. Dose results raise questions
Bristol Myers’ admilparant met the main goal of a late-stage trial in idiopathic pulmonary fibrosis at 60 mg, but its 120 mg dose did not reach statistical significance. Contineum Therapeutics is testing once-daily PIPE-791, which targets the same LPA1 pathway as twice-daily admilparant, in patients with the lung-scarring disease.
2. Analysts assess implications
JonesTrading analyst Debanjana Chatterjee said the higher-dose miss raises “questions on dose-response.” Stifel analyst Paul Matteis called it “an odd nuance,” while saying the readout makes the LPA1 thesis “more validated”; he added that skeptics may still question how derisked the pathway is. Chatterjee said the lack of numerical details could potentially cap upside as investors assume a less competitive effect size.
