Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Safety Concerns Halt Abbott Study of Bardoxolone

Abbott Labs (NYSE: ABT  ) announced in an SEC filing Thursday that a phase 3 study of its bardoxolone drug for kidney disease and type 2 diabetes would be halted.

The study's Independent Data Monitoring Committee made the recommendation to stop because of safety concerns due to "excess serious adverse events and mortality in the bardoxolone methyl arm." Abbott's partner on the trial, Reata Pharmaceuticals, made the decision to discontinue the trial. Regulatory authorities and study participants are being notified.

Abbott and Reata say they will will examine the data to determine "whether there is an appropriate path forward for the development of bardoxolone methyl in chronic kidney disease or other indications."

Some had predicted the drug could be a blockbuster.

The bad news for Abbott comes on the heels of a bland quarterly earnings report. The company's third quarter earnings missed on revenue estimates despite beating projected earnings.

Dan Carroll has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2066176, ~/Articles/ArticleHandler.aspx, 3/2/2015 7:50:37 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...