On April 10, Sun Pharma Advanced Research Company (SPARC) witnessed a 5% decline, hitting the lower circuit, subsequent to the company’s announcement of discontinuing its Phase 2 trial on Vodobatinib for Parkinson’s disease, a significant setback for the Mumbai-based pharmaceutical firm.
The PROSEEK study, which spanned across multiple continents including the United States, Europe, and India, was designed to enroll 513 early-stage Parkinson’s disease patients. Its objective was to meticulously evaluate the safety and efficacy of Vodobatinib, a selective c-Abl tyrosine kinase inhibitor, in managing the symptoms associated with this progressive neurological disorder.
Central to the trial was the endeavor to gauge the extent of symptom alleviation, quantified using the Movement Disorder Society – Unified Parkinson’s Disease Rating Scale (MDS-UPDRS) Part III, an established metric in Parkinson’s research.
Despite the comprehensive nature of the study and the participation of 442 patients who completed a rigorous 40-week treatment regimen, the interim analysis delivered a disheartening outcome. Sun Pharma Advanced Research Company revealed that Vodobatinib failed to exhibit superiority over the placebo in achieving the primary endpoint, marking a significant setback in the quest for a potential therapeutic breakthrough in Parkinson’s disease management.
“Following a thorough review of the data, SPARC has concluded that the study did not demonstrate any treatment benefit for patients receiving Vodobatinib. Consequently, the decision has been made to terminate the study,” the company informed exchanges. It intends to conduct a comprehensive analysis of clinical outcomes and correlating biomarker data over the forthcoming months.
By 10:12 am, SPARC shares were locked in a 5% lower circuit, trading at Rs 429.70 on the National Stock Exchange (NSE). Despite this setback, the stock has witnessed a remarkable rise of nearly 40% since the beginning of the year, outperforming the benchmark Nifty 50, which has seen a 4% increase during the same period. Over the past year, SPARC has delivered impressive returns of over 134%.
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