The 145-patient MAXPIRe study failed to show any benefit in slowing the annualized rate of decline in forced vital capacity, a critical metric for lung function. This result stands in sharp contrast to February 2026, when Chief Medical Officer Botwood expressed high confidence in the trial’s design and potential to provide robust proof-of-concept data. Following the disclosure, the company confirmed it would halt all IPF-related development for the asset, refocusing its resources on existing graft-versus-host disease programs.

In response to the market volatility, the law firm Levi & Korsinsky has launched an investigation into potential securities law violations. The firm is inviting investors who purchased SNDX shares at allegedly inflated prices to submit documentation for a loss evaluation. While the company’s stock opened at $14.61—a drop of 11.72%—the decline deepened to 15% by midday as the market reacted to the clinical failure.