(Reuters) – Shares of biotech company HilleVax plunged 88.6% to $1.60 in premarket trade on Monday, after its vaccine to prevent gastroenteritis caused by norovirus failed to meet the main goal of a mid-stage trial in infants.
The vaccine, named HIL-214, showed an efficacy of only 5%, failing to meet the main goal in the study conducted on more than 2,800 infants. It also did not show any clinical benefits across secondary goals of the study.
While HIL-214 was being tested in infants, children and adults, HilleVax said it will discontinue the vaccine’s development for infants.
The company added it will explore whether it can continue the development of HIL-214 and its other candidate, HIL-216, in adults.
Norovirus is one of the leading causes of vomiting, diarrhea and other foodborne illnesses, as per U.S. Centers for Disease Control and Prevention. It is known to cause gastroenteritis, an inflammation of the stomach or intestines.
(Reporting by Puyaan Singh in Bengaluru; Editing by Shreya Biswas)
