United Therapeutics (UTHR) Slammed After Trial Fails to Meet Primary Endpoint

United Therapeutics Corp. (Nasdaq: UTHR) is falling 16 percent in pre-open trading Wednesday after its pulmonary arterial hypertension drug failed in a late-stage trial.

The company said its FREEDOM-C(2) Phase 3 trial of treprostinil diethanolamine in patients with pulmonary arterial hypertension did not achieve statistical significance for the primary endpoint, six-minute walk distance at (6MWD) Week 16.

In response to the news, analyst at Deutsche Bank downgraded the stock to Hold.

"We remain skeptical about the approval of oral Remodulin The co believes oral Remodulin can still get approved on Freedom-M data and expects to file in 1H2012. However, we remain cautious until we see detailed data from Freedom-M in 2012," Deutsche Bank said.

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