Roivant’s lung disease drug fails mid-stage trial

(Reuters) – Roivant said on Tuesday its drug did not meet the main goal in a mid-stage trial evaluating it in patients with a type of lung disease.

The drugmaker said it will discontinue further development of the drug, namilumab, for the treatment of chronic active pulmonary sarcoidosis.

It is a rare disease that causes lumps of inflammatory cells to form in the lungs and other organs, leading to tissue damage and organ dysfunction.

Shares of Roivant fell 1.3% in premarket trading.

(Reporting by Christy Santhosh in Bengaluru; Editing by Shinjini Ganguli)