The title of biotech DBV Technologies fell on the stock market, its decision to withdraw the application for marketing authorization for Viaskin Peanut constituting yet another setback.
DBV Technologies tumbles on the stock market, another setback for the Viaskin Peanut patch | Photo credits: DBV Technologies
DBV Technologies slips more than 18% on the stock market this Tuesday, in reaction to the announcement last night of the withdrawal of its marketing authorization application (MA) for Viaskin Peanut notified to the European Medicines Agency (EMA). Viaskin Peanut is a peanut allergy desensitization patch developed by biotech.
In detail, the application for Viaskin Peanut was accepted by the EMA in November 2020. The filing was initially supported by positive data from a single phase III trial. However, the current opinion of the CHMP (Committee for Medicinal Products for Human Us), body of the EMA, according to which the data available to date from a single pivotal study are not sufficient, constituted a major objection and forced DBV Technologies to withdraw its case.
It did not take more to worry investors and drop the title to 4.15 euros. The title, which came out of the SBF 120 index on Monday, is at its lowest for a year. This biopharmaceutical company is still in its clinical stage and its development is based in particular on the success and marketing of this product.
OB