Aimmune Therapeutics Inc. (NASDAQ: AIMT) shares jumped over 35 percent after competitor, DBV Technologies (NASDAQ: DBVT) reported late-stage clinical trial for its peanut allergy drug and did not meet key results.
DBV shares plummeted by 45 percent on Monday after it had reported its less than expected results for its drug, Viaskin Peanut.
DBV results showed that after 12 months of treatment, 35.3 percent of the patients responded to the Viaskin Peanut drug, while 13.6 percent responded to the placebo patch. However, the patch did not reach the primary endpoint, which measures the 95 percent confidence interval in the different between the drug itself and the placebo patch. It did not reach the 15 percent lower bound the CI that was proposed to the FDA.
DBV still plans to continue to discuss with the FDA about its drug.
In March, Aimmune delivered its phase 2 clinical trial results for AR101. In the clinical trial, the company reported that 78 percent of patients in the test had responded to the drug, but 20 percent of patients showed no response.
This positions Aimmune to deliver possible better results than DBV in an upcoming medical meeting where the company will present its data from its peanut allergy studies as well its phase 3 PALISADE trial for its AR101 peanut allergy drug.
If Aimmune succeeds in its phase 3 clinical trial for its peanut allergy drug, this will move the company even closer to a possible FDA approval.